Oslo-based fintech startup Two, known for its innovative B2B payments platform, has secured €13 million in a new funding round.
This brings the company’s total capital raised to over €40 million. The round was led by Idékapital and Shine Capital, with participation from Investinor, as well as existing backers including Sequoia Capital, Antler, Alliance Ventures, Arkwright, and Local Globe.
Kristian Øvsthus from Idékapital will join as a board observer. He praised the founding team’s ambition and global potential, stating:
“Two stands out through their combination of a powerful and modular software, deep understanding of network effects, and dedication to solving a big problem.”
Accelerating growth and entry into new markets
Two has been experiencing significant growth, with revenue and payment volume expected to surge by over 150% year-over-year in 2025. The startup has recently inked major partnerships with Visa, ABN AMRO, Qliro, Avarda, and Wikinggruppen.
The newly secured funding will fuel the expansion into the US and Western Europe. In fact, within just three months of launching in the US, that market already accounts for 20% of Two’s revenue.
Advertisement
Building B2B payment infrastructure for global scale
Founded in 2021 by Andreas Mjelde and Kiran Thomas, the firm aims to modernize B2B transactions by offering flexible net payment terms to business buyers while giving sellers instant payouts. Its infrastructure includes advanced risk engines (Frida and Delphi), AI-powered fraud prevention, and seamless onboarding tools.
CEO Andreas Mjelde stated:
“We are the ‘Two’ in B2B, and we’re on a mission to make selling on net terms as easy as accepting card payments.”
The platform is already used by over 200 merchants across 15 countries and collaborates with major institutions such as Allianz, Santander, and ABN AMRO.
Investor confidence in B2B payments revolution
The funding round reflects strong investor confidence in Two’s vision and scalability. Mo Koyfman of Shine Capital noted:
“The B2B payments market is approaching $100 trillion and is still largely paper-based. Two is helping lead the digital transition.”
Investinor’s Egil Garberg added:
“They’re tackling an underserved market with scalable tech and a world-class team. Together with top-tier investors, we’re backing a future fintech leader from Norway.”
With a proven platform, a growing client base, and momentum in new markets, the company appears poised to become a major player in reshaping how businesses manage payments globally.
