Düsseldorf-based getpaid, a comprehensive payment solution for marketplaces and platforms, announced on Thursday that it has secured $6M (approximately €5.7M) in a seed round of funding.
The investment was led by Inventure, a Nordic early-stage VC, with participation from existing investor Munich-based Picus Capital.
European angels, including Christian Grobe and Matthias Knecht, founders of Billie; Ilkka Paananen, co-founder of Supercell; Kai-Uwe Mokros, MD of Zalando Payments; Jordane Giuly, founder of Defacto / Spendesk; and Felix Jahn, serial entrepreneur and high profile angel investor, also contributed in this round.
A pan-European technology and payment company
According to getpaid, B2B SaaS platforms and marketplaces face significant challenges in scaling rapidly due to the complex nature of multiparty transactions, lack of user-friendly interfaces, resistance to digital payment adoption, limited payment method options, and security concerns.
To overcome these challenges, businesses should invest in streamlined payment systems that utilise technologies like blockchain, prioritise user experience design, offer incentives for digital payment adoption, diversify payment methods, ensure robust security measures, and collaborate with fintech providers to create customised solutions.
Addressing these issues can enhance payment operations, improve user experience, and facilitate the rapid growth of B2B platforms and marketplaces.
getpaid streamlines payment complexities for businesses by managing splits, fees, and commissions across parties and regions. It claims to enable seamless payout scheduling, and integrate payment and finance operations, fostering business growth without increasing internal complexity or team size.
Gonzalo Ruiz, co-founder and CTO of getpaid, says, “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 payment capabilities, innovative ways to use platforms’ aggregated data and utilisation of AI. But not again with adding more people to your payment operations team to just reconcile and chase workarounds,” adds Ruiz.
Brief about getpaid
Founded in 2022 by Gonzalo Ruiz and Cyrosch Kalateh, getpaid is a software and payment company headquartered in Germany and Spain. The company specialises in helping B2B platforms and marketplaces optimise their payment processes.
getpaid claims that its solution enhances revenue potential, offers valuable data insights, improves customer experience, and optimises payment operations, allowing businesses to gain up to five times more value from their payments.
Kalateh says, “We give SaaS-enabled B2B marketplaces the tools and make it as easy as possible to customise money flows according to their business needs.”
Currently, the company has onboarded multiple customers and closed additional contracts representing over €600M of GMV across different B2B marketplaces and platforms.
Investors supporting getpaid
Inventure claims to be the largest seed-focused VC firm in the Nordics, managing €377M in assets. With a focus on supporting early-stage startups, the firm has backed over 90 companies, including successful ones like Wolt, Swappie, and aiMotive.
Picus Capital is a global VC firm that invests in technology companies across various sectors, focusing on pre-Seed, Seed, and Series A rounds. The firm invests in tech companies in sectors including financial services, HR, energy & climate, healthcare, logistics & mobility, real estate & construction, crypto & web3, deeptech and e-commerce.