Two

Two is a business-to-business payments company offering net terms (deferred invoice payment) infrastructure to merchants selling to other businesses. Its platform covers three sales channels: online checkout on a merchant's webstore, direct sales conducted over the phone, by email or in person via an automated sales flow, and in-store purchasing with immediate credit decisioning. The stated aim is to let merchants offer buyers instant, flexible payment terms with higher credit limits than they would extend on their own balance sheet.

The product automates the order-to-cash cycle, handling invoicing, payment collection, reminders and dunning, credit note issuance, reconciliation and credit limit updates — tasks the company contrasts with a manual workflow involving company look-ups, manual credit checks, quote generation, invoice chasing and payment matching. Two also offers upfront payments to merchants for all orders. For enterprise customers, Two monitors risk while the merchant retains authority over credit approvals and buyer management; the platform provides an API modelled on conventional payment methods, role-based access control and audit logs, plus prebuilt plugins for low-code and no-code e-commerce platforms.

Risk assessment is handled by two named AI engines. Delphi, the credit engine, analyses a range of real-time data sources to issue credit decisions in under two seconds, running continuously and checking all buyers. Frida, the fraud engine, fraud-checks every customer, is described as capable of processing more than 5,000 transactions per second, and is credited with high verification completion rates among buyers.

Business model

Two sits between B2B merchants and their business buyers, supplying the credit decisioning, fraud screening, invoicing and collections layer required to offer net terms at checkout, and can pay merchants upfront for orders while assuming the collection workflow [0][2].

Traction

The company reports coverage of 19 markets, more than €1 billion in B2B payment volume, over 100,000 monthly B2B orders and close to 100,000 B2B buyers using the service, plus €70 million of fraud losses prevented in 2023 [0][2].