European Startup Getpaid Secures $6 Million in Seed Funding

Getpaid, a European fintech startup specializing in marketplace and platform payments, has raised $6 million in a seed funding round. The round was led by Nordic investor Inventure and saw participation from Picus Capital and several high-profile business angels from the payment and marketplace industry.

The Growing Influence of the “Tink Mafia”

The funding round comes as the fintech sector continues to stabilize and grow, with a particular increase in influence from the ‘Tink mafia’. This is a group that has gained prominence following the 2021 €1.8 billion acquisition of Tink by Visa. Gwen Sandberg, the global head of SMB and growth at Tink, led the round at Inventure. Sandberg is a former colleague of Getpaid founder and CEO, Cyrosch Kalateh.

Getpaid’s Mission: Simplifying B2B Payments

Getpaid’s goal is to simplify the complexities that often plague typical B2B platforms. The company manages payment splits, fees, and commissions across multiple parties and geographies. It also provides integrated payment and finance operations that enable flexible payout timings.

Gonzalo Ruiz, co-founder and CTO of Getpaid, explains the company’s innovative approach. He states that with platform-tailored payments capabilities, innovative use of aggregated data, and artificial intelligence, payments across different parties in different countries with varying payout rules can be done in just a few clicks. The aim is to make payment operations more efficient, without the need for additional personnel.

Getpaid’s Progress So Far

Getpaid has already onboarded several live customers and secured additional contracts representing over €600 million of GMV across various B2B marketplaces and platforms. The firm has offices in Düsseldorf and Madrid, and its team consists of industry veterans from Microsoft, Google, AmEx, Tink, and Payvision.