Giving businesses control of their online B2B payments, end-to-end payments solution for marketplaces and platforms, getpaid allows them to take charge of ‘payment splits, fees, and commissions involving multiple parties and geographies, while easily enabling payout timings with integrated payment and finance operations’. Marketplaces and platforms can scale their revenue and merchant base while increasing new service lines without increasing team size or internal complexity.
“If a platform wants to offer invoice payments with net terms, cards, direct debits, split the payments across three different parties in different countries with different payout rules - and wants to make payment revenue by customer tiers. It should basically be just a few clicks. That can only be done with platform tailored payments capabilities, innovative ways to use platforms’ aggregated data and utilisation of artificial intelligence. But not again with adding more people to your payment operations team to just reconcile and chase workarounds,” says Gonzalo Ruiz, co-founder and CTO of getpaid.
With headquarters in Germany and Spain, the payments solution provider has raised a $6 million Seed round. Led by Inventure, it includes further investment from existing investor Picus Capital and a host of angels including Christian Grobe, Matthias Knecht, Ilkka Paananen, Kai-Uwe Mokros, Jordane Giuly, and Felix Jahn.
“We believe that the next frontier for payments is payment providers who truly innovate and solve an innate pain point within a specific market vertical that the now ubiquitous horizontal payment provider can’t solve for,” says Gwen Sandberg, Investor at Inventure. “The player who will win this vertical is the one who abstracts away complexities within multi-party payments, who shoulders the regulatory requirements and who gives back control to the platform provider, enabling them to focus on doing what they do well – whether it is operating a marketplace or running a vertical SaaS.”
Lead image: getpaid founders Gonzalo Ruiz, CTO and Cyrosch Kalateh, CEO. Photo: Uncredited.