Fintech firm Enterpay raises funding and expands internationally


Fintech firm Enterpay raises funding and expands internationally


[UKPRwire, Tue Oct 15 2019] Finnish Enterpay’s automated invoicing payment solution solves an essential issue in today’s growing B2B e-commerce space, which has generated great international interest. This has enabled them to successfully conclude a new, €1 million funding round and attract international partners, including German bank Volksbanken Raiffeisenbanken.

Headquartered in Helsinki, Enterpay's management has decades of combined experience within the financial services sector, consulting and technology development. To strengthen its position in Europe, Enterpay has entered a cooperation with Volksbanken Raiffeisenbanken, and more particularly its payment subsidy VR Payment, one of the leading specialists in cashless payments in Germany. TEBA Kreditbank is the operating factoring partner of the new solution.

Value creation through automatisation
Enterpay's solution aims to significantly optimise the payment process for B2B e-commerce by automating the invoicing process. Many merchants have already decided to offer Enterpay's simplified payment method to their commercial customers in the growing digital marketplace:

"We are proud to say that some of Finland's most accomplished companies trust Enterpay to deliver unique, digital payment services to their B2B customers,” says Jarkko Anttiroiko, CEO at Enterpay and continues: “Our goal is to help corporates all over the world buy like consumers by digitising the onboarding and risk management processes and improve the user experience. It should be just as easy for companies to shop online, as it is privately ".

Enterpay’s payment scheme consists of an open platform where all necessary parties can enable automated B2B-trade and cooperate seamlessly. The B2B merchants can increase the number of profitable customers through improved credit scoring and automated invoicing. The corporate buyer experiences easier onboarding at new merchants and more seamless check-out flow. Finally, integrating with financial institutions allows these to deliver improved financing solutions to the merchants.

Solving a problem most corporate buyers have faced
Most online payment methods, such as credit cards or the mobile wallet solutions, serve only the B2C segment, but fail to meet the needs of both the selling and buying sides of the underserved B2B e-commerce sphere. Invoice payments are the preferred option in B2B commerce, but these are often handled manually, which makes them time-consuming and potentially risky. As online purchases in the B2B market continue to grow rapidly, B2B buyers expect the same smooth experience that they know from B2C e-commerce. Consequently, merchants need a solution that is equipped to meet the changing expectations of their respective B2B customers

Nordic roots and international ambitions
Enterpay has partners among leading Nordic businesses in credit management, invoicing, and finance. During the funding campaign, the fintech has received funding from national, as well as Nordic investors, which it will use to strengthen its international reach and enhance the service:

"We are overly happy with the outcome of our recent funding round. We were not only able raise capital, but also to engage in collaboration and conversations with strong international players. While the money will accelerate our domestic and international growth, the industry knowledge and business know-how that these investments bring are equally beneficial to us. We believe that more can be achieved through collaboration, and want to be regarded as an enabler, not a competitor, by established, international financial institutions," says Jarkko Anttiroiko.

Rapid success in the German market
The collaborative approach that characterizes the Scandinavian financial sector is at the core of Enterpay's culture and strategy. The fintech is already cooperating with Collector Bank and Arvato in Finland and has just entered a new, exciting partnership with German bank Volksbanken Raiffeisenbanken to bring Enterpay's innovative solution to the German market, which represents approximately 25% of the total €450 billion European e-commerce market.

The partnership with Volksbanken Raiffeisenbanken is a critical strategic milestone for the start-up to achieve its vision of becoming the premium, and most trusted, transaction platform in B2B e-commerce worldwide:

"Enterpay is at the core of the exponentially growing B2B segment, and the partnership solidifies our potential. We are excited to bring our solution to the German merchants and make life easier for every stakeholder in the value-chain," Jarkko Anttiroiko concludes.

At Volksbanken Raiffeisenbanken, they are also excited about bringing value-added services to their B2B customers: “In cooperation with Enterpay, we offer an invoicing payment solution that embraces our commercial customers' digital agendas and enhances the customer experience in a cost and time effective manner," says Carlos Gómez-Sáez, CEO of VR Payment.

About Enterpay
Founded in 2013 in Helsinki, Finland, Enterpay is a fintech start-up with an international outlook that provides a simplified and automated B2B e-commerce invoicing payment solution that accelerates growth for every stakeholder in the value-chain. The team mixture of both strong experience in finance and payments and technical know-how and has Innovation and collaboration at its core. Enterpay has recently strengthened its sales team with experts like Ville Martin, as well as Tony Salmelainen, a prominent ex-professional ice hockey star.

For further information, please contact:

Media contact:
Michael Juul Rugaard
Partner, Norfico
+45 93 99 38 83
mjrug@norfico.net

Company contact:
Jarkko Anttiroiko
Chief Executive Officer
+358 500 520782
jarkko.anttiroiko@enterpay.fi

Company: Enterpay


Contact Name: Anders Haas

Contact Email: anders.haas@norfico.net

Contact Phone: +45 61667348

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