Norway Based Two Secures €13M Funding To Scale Its B2B Payments Solutions

The new funds will support its expansion into the US and key Western European markets.

Two is growing fast, expecting over 150% year-on-year growth in revenue and payment volume for 2025. In the past six months, it has formed key partnerships with Visa, ABN AMRO, Qliro, Avarda, and Wikinggruppen.

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As more businesses move away from outdated manual systems, Two is well-positioned to lead the digital shift in B2B payments, similar to what consumer fintech has achieved in recent years.

Andreas Mjelde, CEO & co-founder of Two, said: We are the ‘Two’ in B2B, and we’re on a mission to make selling on net terms as easy as accepting card payments. We’ve proven that merchants want flexible payment solutions built for how businesses actually buy, not just consumer tools rebranded for B2B. We will leverage the capital injection to scale with large and global enterprise businesses, and we’re excited to add strong institutional investors with a long-term investment horizon like Investinor and Idékapital to the team.

The funding round was led by Idékapital and Shine Capital, with support from new investor Investinor and existing backers Sequoia Capital, Antler, Alliance Ventures, Arkwright, and Local Globe.

Kristian Øvsthus, Managing Partner at Idékapital and incoming board observer, said they invested in Two because of the founding team's exceptional ambition and talent.

With deep international experience and a diverse, world-class team, they are uniquely positioned to scale globally. B2B payments is a massive and still largely untapped market. Two stands out through their combination of a powerful and modular software, deep understanding of the network effects in their industry and their dedication to solving a big problem. We believe they have what it takes to build a global category leader.

Egil Garberg, Investment Director at Investinor, noted that Two is proving B2B payments can be just as advanced and seamless as those in the consumer space.

They’re tackling an underserved market with a world-class team and scalable technology. Together with Sequoia, Shine Capital, Idékapital, and Antler, we’re proud to back Two as they build the next global standout fintech success from Norway.

Mathias Owing Maanum, Partner at Antler, emphasized that B2B payments remain one of fintech’s largest untapped markets. He noted that trillions in transactions still rely on outdated manual processes, offering poor user experience and limited access to credit. He added:

Two’s platform is at the forefront, making it as simple to offer instant net terms as it is to accept a card from consumers. What sets Two apart is their real-time underwriting engine, unique banking partnerships, and proven ability to scale rapidly - already serving more than 200 merchants across Europe. We believe they’re building the foundational infrastructure for the next era of global B2B commerce, and we’re proud to continue supporting this exceptional team as they realise their bold vision.

Mo Koyfman, Founder & General Partner at Shine Capital, added: The B2B payments market is approaching $100 trillion in volume, and is largely still processed with checks by Accounts Payable departments. Over the coming years, as we've increasingly seen with consumer payments, this market will also digitise. Two, and its experienced, ambitious team, is helping lead this transition with instant underwriting, seamless terms, and a global footprint, serving some of the largest companies in the world

The funding will also support the ongoing development of Two’s fully built-out B2B payments infrastructure. This includes its proprietary risk engines, Frida and Delphi, a complete business onboarding system, and embedded deferred payment features tailored for B2B transactions—already used by over 200 merchants across the Nordics and Europe.

About Two

Founded in 2021, Two aims to make B2B payments as smooth as consumer checkouts. The platform offers instant payments to sellers, flexible terms for buyers, and AI-powered fraud prevention. It’s already widely adopted by both large companies and SMEs in Northern Europe.