getpaid, headquartered in Düsseldorf, unveiled its comprehensive payment solution tailored for marketplaces and platforms and proudly announced its successful completion of a $5.9 million (approximately €5.7 million) seed funding round.
Inventure, a prominent early-stage VC firm in the Nordic region, spearheaded the investment, with ongoing support from Picus Capital, based in Munich.
European angel investors, including Billie’s founders Christian Grobe and Matthias Knecht, Supercell’s co-founder Ilkka Paananen, Zalando Payments’ Managing Director Kai-Uwe Mokros, Defacto/Spendesk founder Jordane Giuly, and serial entrepreneur and esteemed angel investor Felix Jahn, also made substantial contributions to this funding round.
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A European Technology and Payment Company Spanning Across the Continent
According to getpaid, B2B SaaS platforms and marketplaces encounter substantial hurdles when aiming for rapid scalability. These challenges include the intricate nature of multiparty transactions, unwieldy user interfaces, reluctance toward digital payment adoption, limited payment method choices, and security apprehensions.
To surmount these obstacles, businesses should invest in streamlined payment systems that harness technologies like blockchain, prioritize user-centric design, incentivize digital payment adoption, diversify payment methods, establish robust security protocols, and collaborate with fintech providers to devise tailor-made solutions.
Addressing these issues can lead to enhanced payment operations, improved user experiences, and the facilitation of swift growth for B2B platforms and marketplaces.
getpaid simplifies payment complexities for businesses by managing splits, fees, and commissions across various parties and geographical regions. The platform claims to enable seamless payout scheduling and seamlessly integrates payment and financial operations, fostering business growth without the need to expand internal complexity or team size.
Gonzalo Ruiz, co-founder and CTO of getpaid, explains, “If a platform desires to offer invoice payments with net terms, cards, direct debits, and split payments among three different parties located in different countries with distinct payout regulations – and also wants to generate payment revenue based on customer tiers, it should be as simple as a few clicks.”
He continues, “This can only be achieved with platform-specific payment capabilities, innovative approaches to utilize aggregated platform data, and the application of AI. The solution is not merely adding more personnel to your payment operations team for reconciliation and workarounds.”
About getpaid
Established in 2022 by Gonzalo Ruiz and Cyrosch Kalateh, getpaid is a software and payment company headquartered in both Germany and Spain. The company specializes in assisting B2B platforms and marketplaces in optimizing their payment processes.
getpaid asserts that its solution enhances revenue potential, provides valuable data insights, elevates the customer experience, and streamlines payment operations, empowering businesses to extract up to five times more value from their transactions.
Kalateh explains, “We equip SaaS-enabled B2B marketplaces with the necessary tools and simplify the customization of financial flows to align with their specific business requirements.”
Currently, the company has successfully onboarded numerous customers and secured additional contracts, representing a total GMV (Gross Merchandise Value) of over €600 million across various B2B marketplaces and platforms.
Investors Backing getpaid’s Vision and Growth
Inventure asserts its position as the largest seed-focused VC firm in the Nordics, overseeing assets totaling €377 million. Prioritizing support for early-stage startups, the firm has provided backing to more than 90 companies, including notable successes such as Wolt, Swappie, and aiMotive.
Picus Capital, on the other hand, is a global VC firm with a diverse investment portfolio spanning various technology sectors. Their focus extends to pre-Seed, Seed, and Series A funding rounds, and they invest in tech companies operating in sectors such as financial services, HR, energy & climate, healthcare, logistics & mobility, real estate & construction, crypto & web3, deeptech, and e-commerce.
