As the year draws to a close, it's the perfect time to reflect on the incredible journey we've had at Sprinque. 2023 has been a year of challenges, significant milestones, growth, and exciting developments. We've shaped our identity and strengthened our commitment to revolutionize B2B commerce and remove friction in the industry. Let's take a moment to celebrate the key achievements that defined our year.
Securing a total of €26M to fuel our growth
A highlight of the year for Sprinque has been the successful completion of our seed funding round, raising an impressive €6 million. This funding attests to investors' confidence in our vision and fuels our expansion of the Pay by Invoice solution across Europe. Additionally, Avellinia Capital recognized the potential of revolutionizing cross-border B2B payments and provided a substantial €20 million debt facility, allowing us to enhance liquidity for B2B merchants across Europe.
Celebrating Two Years of Innovation
As we turned two years old, we took a moment to reflect on the evolving landscape of B2B payments. Our blog post, "Here's Why 2023 Is the Year of B2B Payments", explores the trends that are shaping the future of our industry and sets the tone for the exciting years ahead.
Expanding Our Reach - New Offices in Madrid and Berlin
In alignment with our commitment to delivering seamless cross-border B2B payment solutions, we strategically expanded our presence by inaugurating two new offices in Madrid and Berlin. This strategic move positions us in proximity to key markets, thereby fortifying our global presence.
Global Footprint - Merchants from 12 countries and buyers in 35 countries
In tandem with our merchants, we remain steadfast in our mission - Eliminate friction from B2B e-commerce, globally. Currently servicing merchant from 12 different countries whilst constantly improving our credit risk and fraud policy, Sprinque has achieved a global reach with buyers spanning 35 countries (and growing!), with an impressive 92% buyer approval rate.
Introduced 11 New Product Features
We are extremely proud of what the team has developed along with the support and learnings derived from our merchants. We introduced features for merchants to better utilize Sprinque to reach their growth target (ie. Dynamic settlements, passing fee to buyers), strengthen the relationship with their buyers (ie. requesting limit updates), and streamline their workflow (ie. Email capture, API updates). We’ve also devoted ourselves to creating a smooth buyer journey. From localized communications, pay page, to instalments, we aim to create a seamless purchasing experience while removing all frictions along the way.
As we look back on this transformative year, we extend our heartfelt thanks to our customers, partners, and investors. Your trust and support have been instrumental in our success, and we are excited to continue this journey together.
Looking ahead to the coming year, we remain resolute in our commitment to driving innovation, fostering strategic partnerships, and spearheading the elimination of friction in the realm of B2B commerce globally.
Here's to an even more exciting and successful year ahead!
The Sprinque Team.