It’s been almost a year since Briqpay unveiled the launch of its B2B checkout solution together with the closing of a €606K pre-seed round.
On Tuesday (August 24, 2021), Briqpay announced the closing of a €2M seed round that has been co-led by partners from eEquity, Mantle Advise, and the previous backer Keith Richman’s fund, 31 Atlantic with participation from Christian Leone (Luxor Capital – CEO and Founder), Charlie Chanaratsopon (Boosted Commerce – Founder) with others.
Mats Andersson, CEO, and co-founder of Briqpay, stated:
“We are happy to welcome eEquity to Briqpay. eEquity has a long and successful history from investing in digital commerce, and their experience will bring much value for us in our journey towards becoming the leading B2B payment supplier.”
Mats Andersson and his two co-founders, Sara Johansson, and Björn Widerström come from a background of working in digital commerce and Fintech (all three of them have “previously worked for Europe’s biggest fintech company Klarna, which earlier this summer announced a major round of funding, valued at $45.6B valuation”).
Briqpay offers solutions to enable and make B2B sales online “more accessible.” With Briqpay, merchants are able to maintain complete control of the customer journey, “from creating an account to the checkout and finally analyzing the data in their back office.”
As explained in the announcement, Briqpay is unique because of the flexibility of their solutions, “together with sharing all the data connected to signup or purchase.” Briqpays flexibility “ensures their solution is accessible for all industries within the digital space, both e-commerce stores, SaaS, and digital brick-and-mortar solutions,” the update noted.
Patrik Hedelin, Managing Partner at eEquity, remarked:
“We are driven by seamlessness and scalability in digital disruption for new verticals, looking at the B2B market that is more than double the size of the B2C market. That is why we see a huge potential in Briqpay, their solution gives online retailers a lot of new possibilities.”
Established last year, Briqpay is an “agile software company, focusing on eliminating friction in the buying process between businesses.” They provide two solutions for digital business-to-business (B2B) sales. They have a single registration form to handle the onboarding of new clients and a “unique payment system where the merchant decided on payment methods, functionality and design.”
Launched in 2010, eEquity is a Private Equity firm (digital growth sector fund) that “invests in Nordic internet businesses with a special focus on internet retailing.” Portfolio firms reportedly include Pricerunner, Footway, NA-KD, iDeal of Sweden, Sweef, and PS of Sweden. eEquity has led investments of over SEK 2.5 billion in 35 firms across four funds.
As mentioned in the update:
“eEquity normally invests in companies with sales between EUR 5-20 million and with an ambition to build them to over EUR +100 million sales with profitability. The companies are normally entrepreneur-led growth companies with the potential to become market leaders.”
The investors behind eEquity are European Investment Fund (EIF), established European family offices, and financial institutions. eEquity is being led by Patrik Hedelin and Magnus Wiberg, who are both “experienced internet entrepreneurs,” the announcement revealed.