Monday, March 4, 2024
HomeFunding Düsseldorf-based Getpaid Secures €5.7 million in Seed Funding

[Funding alert] Düsseldorf-based Getpaid Secures €5.7 million in Seed Funding

Düsseldorf-based Getpaid secures €5.7 million in seed funding, with Nordic early-stage VC Inventure leading the investment.
Getpaid CEO – Dr. Cyrosch Kalateh, CTO – Gonzalo Ruiz

Düsseldorf-based Getpaid secures €5.7 million in seed funding, with Nordic early-stage VC Inventure leading the investment.

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The B2B BNPL platform Billie’s founders Christian Grobe and Matthias Knecht, co-founders of Supercell, Ilkka Paananen, co-founder of Zalando Payments, Kai-Uwe Mokros, MD of Zalando Payments, Jordane Giuly, founder of Defacto/Spendesk, and Felix Jahn, an established serial entrepreneur and angel investor, all increased their stakes in the company.

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Marketplaces and platforms’ multiparty structure between buyers, sellers, and platforms, which represents significant complexity from an end-to-end payment operations standpoint, is the primary obstacle to their capacity to scale quickly. The merchant experience and adoption, simple integration, and the accessibility of digital payment methods are all areas where the B2B payments sector falls short.

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Cyrosch Kalateh, getpaid CEO and cofounder said, “We give SaaS enabled B2B marketplaces the tools and make it as easy as possible to customize money flows according to their business needs,”.

Gonzalo Ruiz, co-founder and CTO of getpaid said, “If a platform wants to offer invoice payments with net terms, cards, direct debits, split the payments across three different parties in different countries with different payout rules – and wants to make payment revenue by customer tiers. It should basically be just a few clicks. That can only be done with platform-tailored payments capabilities, innovative ways to use platforms’ aggregated data and utilization of artificial intelligence. But not again with adding more people to your payment operations team to just reconcile and chase workarounds,”.

Read also – Lausanne based Debiopharm Innovation Fund Launches $150 million Seed Funding Initiative.

With integrated payment and finance activities, Getpaid handles payment splits, fees, and commissions affecting many parties and locations while making payout timings simple. This allows platforms to expand their revenue and merchant base and add more service lines without growing their staff or disrupting their internal operations.

About getpaid

Since its founding in 2022, getpaid has set up numerous live clients and closed more deals totalling more over €600 million in GMV (gross merchandise value) across various B2B platforms and marketplaces. They have offices in Madrid and Düsseldorf, and its staff comprises former employees of Microsoft, Google, AMex, Tink, and Payvision.

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