Norwegian B2B payments platform Two has raised €13 million (US$15.2 million) to support its expansion into the US and Western Europe.

The round was led by Idékapital and Shine Capital, with backing from new investor Investinor and existing supporters Sequoia Capital, Antler, and Local Globe.

This brings Two’s total funding to over €40 million (US$46.8 million).

Founded in 2021, Two provides a platform offering upfront payments to sellers, flexible net terms for buyers, and fraud prevention tools.

It operates in 15 countries and partners with financial institutions like Allianz and Santander.

The new funding will enhance its AI-driven risk engines and embedded payment solutions, already used by 200+ merchants across Europe and the Nordics.

🔗 Source: EU-Startups

🧠 Food for thought

1️⃣ B2B payments represent a massive untapped digital transformation opportunity

The sheer scale of the B2B payments market helps explain why investors are eager to back companies like Two despite broader economic uncertainties.

The current value of B2B cross-border payments stands at approximately $186.2 trillion, dwarfing consumer payment volumes 1.

This market is expected to double to $48 trillion by 2030, making it six times larger than the B2C market 2.

Despite this enormous size, the B2B payments landscape remains surprisingly antiquated, with most transactions still processed through manual methods and checks by accounts payable departments.

The statistics highlight this disconnect: while 95% of B2B buyers now prefer to pay per invoice, fewer than 10% of sellers are equipped to offer it online.

This gap between buyer expectations and seller capabilities represents precisely the opportunity Two is targeting with its instant underwriting and net terms solutions.

2️⃣ The fundraising indicates resilience in B2B payment startups despite market challenges