30 November 2021: Yapily, the European open banking infrastructure provider, today announces a new partnership with Sprinque, the Amsterdam-based B2B checkout platform for marketplaces and merchants, to enable business buyers to seamlessly settle invoices online.
B2B marketplaces - digital platforms that enable companies to connect with other organisations all in one place - are on the rise. With over three hundred in Europe alone, the majority have been founded within the past five years. However, while B2B marketplaces continue to disrupt how procurement is done in almost every industry, when it comes to payments, the majority rely on analogue, antiquated workflows. Not only is this extremely inefficient but it increases the risk of error and overall delays in payment processing.
Spinque has partnered with Yapily to solve this issue by seamlessly allowing B2B marketplaces and merchants to embed B2B payments into their platforms and provide flexible payment experiences for their buyers to maximize conversion.
Partnering with Yapily, Sprinque allows merchants to easily settle invoices via a new B2B payment experience built into the Sprinque B2B Checkout, directly within the marketplace ecosystem. Harnessing Yapily’s open banking infrastructure, customers can now pay one or more outstanding invoices using their online bank account or mobile banking app. They can also pay directly from the marketplace via Sprinque’s embedded B2B checkout, by simply selecting one or multiple invoices to settle, then paying via a single log-in to their bank account.
Yapily recently completed its Series-B fundraising round, which saw it secure $51m to extend open banking globally and revolutionise payments. This partnership with Sprinque is part of Yapily’s European expansion strategy, where the company is planning to extend open banking to cover 95% of the continent by the end of the year; as well as continuing to pave the way for open finance. In the past year, Yapily has entered new markets including France and Spain while continuing to invest in the UK, Italy, and Germany.
Juan Espinosa, CEO of Sprinque said, “We couldn’t be more excited to partner with Yapily - they share our ambition to change how businesses pay online. Yapily’s connectivity and reach across Europe allows us to simplify and standardize the payment experience for business buyers, making it easier than ever for businesses to manage payments.”
Chris Scheuermann of Yapily said, “Partnering with Sprinque is very exciting for us at Yapily. As we continue to expand across Europe, simplifying payments for businesses, while offering consumers convenient, flexible checkout experiences is at the heart of what we do. Sprinque is redefining online B2B payments and it’s transforming the industry, enabling more businesses and merchants to keep pace and evolve with this digital-world. We’re excited to share this journey with them and watch as they continue to innovate the space.”
Yapily is an open banking infrastructure provider, allowing companies to seamlessly access financial data and initiate payments. Designed and built for open finance, Yapily enables better and fairer financial products for everyone.
The company has raised $68M in funding to date, and provides infrastructure for industry leaders including American Express, Intuit Quickbooks, Moneyfarm, Volt, Vivid and BUX. Headquartered in London, UK, Yapily employs over 100 people and continues to scale rapidly.
Sprinque has built a B2B checkout platform to make business transactions as frictionless as ordering from an online consumer shop. Through a single integration, marketplaces can offer a multitude of business-specific payment experiences. Sprinque also provides access to multiple payment methods, including Pay by Bank, allowing buyers to settle invoices using their online bank account or mobile bank app. Sprinque’s checkout platform automates all payment workflows and will offer merchants the option to get instantly paid.
Sprinque has raised €1.8m pre-seed funding from leading VCs, is currently in private beta, with plans to launch in the upcoming months.