Germany’s fintech, getpaid, has successfully secured USD 6 million in a seed funding round. Leading the charge was Nordic early-stage VC, Inventure. Notably, Picus Capital, an existing investor, augmented its stake in getpaid. Furthermore, several distinguished European angel investors hopped on board this investment round.
About getpaid
Founded in 2022 by Dr. Cyrosch Kalateh and Gonzalo Ruiz, getpaid’s primary ambition is to evolve into the globe’s top platform-centric solution. This unique solution is designed to empower platforms to capitalise on payments and seamlessly bolster merchants in expanding their enterprises. Remarkably, getpaid has already clinched contracts equivalent to over EUR 600 million of Gross Merchandise Volume (GMV) spanning numerous B2B platforms and marketplaces. Stationed in both Germany and Spain, this Pan-European software and payment enterprise specialises singularly in B2B platforms and marketplaces. Their product is engineered to amplify the benefits extracted from payments in terms of revenue potential, insightful data, enhanced customer experiences, and streamlined payment operations.
B2B payment landscape
As per getpaid’s press release, B2B SaaS platforms and marketplaces are witnessing a formidable surge. Consequently, they are staking a prominent claim in the B2B payments arena. Intriguingly, despite such an expansion, the B2B payments sphere largely remains offline. This vast offline realm is approximately five times greater than its B2C counterpart. Contrarily, B2C ecommerce enterprises find it simpler to assimilate fintech mechanisms for payment processing. But, B2B platforms and marketplaces grapple with the intricacies of multi-party transactions. These transactions are convoluted with layers of buyers, sellers, and the platforms themselves.
Addressing multi-party complexity
getpaid’s strategy is crystal clear: resolve this multifacetedness. The firm takes charge of payment divides, charges, and commissions in transactions spanning multiple stakeholders and territories. An added feather in their cap is the provision for adaptable payout timings through unified payment and fiscal functions. Such offerings ease the payment process for platforms, empowering them to augment their revenue, merchant community, and even roll out new services. All this, remarkably, without a significant increase in manpower.
Representatives of getpaid underscored their dedication to concocting payment solutions that can be moulded to match the distinct requisites of SaaS-enabled B2B marketplaces. They also accentuated the value of bespoke payment capabilities, ingenious harnessing of consolidated data, and the deployment of artificial intelligence. The end game? Smoothing payment processes sans manpower escalation.
Optimism from the investors
Voices from Picus and Inventure resonated with positivity regarding the prospects of specialised payment solutions in fast-emerging sectors like marketplaces and B2B SaaS. Their belief stands firm: such innovations can uncomplicate multi-party payments, meet regulatory benchmarks, and free platform providers to centre on their fundamental functions.
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