Oslo-based fintech company Two has raised €13 million in a funding round led by Idékapital and Shine Capital, with participation from new investor Investinor and existing backers including Sequoia Capital, Antler, and LocalGlobe. The company, which has now raised over €40 million in total, is building TwoNet, a real-time trust infrastructure designed to simplify B2B transactions by embedding instant credit decisions and guaranteed settlement directly into the payment flow. Two aims to replace slow, manual processes that dominate cross-border trade with AI-driven risk assessment tools and scalable APIs. The new funding will support expansion into the U.S. and Western Europe, and enable the company to scale its platform for larger enterprise clients.
Two develops a software infrastructure called TwoNet, which supports B2B commerce by enabling businesses to offer net payment terms with real-time risk assessment and guaranteed settlement. Instead of relying on traditional manual processes—such as paper invoicing, offline credit checks, and delayed collections—Two’s system integrates automated fraud and credit evaluation tools into the purchase flow.
“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. Our platform solves a specific problem – sellers reject 35% of legitimate buyers due to outdated credit assessment. This funding validates our network approach: every transaction teaches our AI who to trust, creating compound value for all participants. We will use 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.” says Andreas Mjelde, CEO and Co-founder at Two.
The company reports that more than 200 merchants already use its platform to assess buyers instantly and approve transactions that might otherwise be rejected due to legacy credit practices. Two’s technology is designed to reduce revenue loss from declined customers and improve cash flow predictability for sellers.
With B2B payments projected to reach multi-trillion-dollar volumes in the coming years, the company plans to use the new capital to deepen its presence in the U.S. market and enter selected Western European countries. Expansion efforts will focus on connecting suppliers and buyers across regions—including between the U.S., the Nordics, the UK, and continental Europe—via a single integrated network.
“We invested in Two because of the exceptional ambition and talent of the founding team. 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.” shares Kristian Øvsthus, Managing Partner at Idékapital.
Mo Koyfman, Founder & General Partner at Shine Capital, noted:
“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 round also marks the entry of Investinor, a state-backed venture firm, and adds new institutional support for Two’s next growth phase, which includes targeting large enterprise clients and increasing adoption of its API-based infrastructure in global markets.
Egil Garberg, Investment Director at Investinor, says: “Two is proving that B2B payments don’t need to lag behind consumer solutions. 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 adds:
“B2B payments remain one of the largest untapped opportunities in fintech – trillions in volume still move through manual processes, with poor UX and limited access to credit. 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.”
Founded in Norway, Two operates with a distributed team across 15 countries and maintains offices in Oslo, London, Stockholm, and Glasgow. The company collaborates with financial institutions such as Allianz, Santander, and ABN AMRO to support its credit and settlement operations.
“The future of B2B payments is here, and we’re proud to be at the forefront of this change,” says Joachim Krüger, Co-founder and CPO at Two. “Trust is the currency of B2B. We’re building the central bank: the missing trust layer between every business transaction globally.”
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Read the orginal article: https://arcticstartup.com/two-raises-e13m/
