Two
Two is a B2B payments platform providing net terms infrastructure that enables merchants to offer buy-now-pay-later financing and trade credit to business buyers. Its AI-powered credit and fraud engines power instant credit decisions across 15 countries, serving SMBs to enterprises in sectors including electronics, building materials, and marketplaces.
- Company typePrivate
- Founded2021
- HeadquartersOslo, Norway
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Two does
Two is a B2B payments platform that provides net terms infrastructure enabling merchants to offer buy-now-pay-later financing and trade credit to business buyers. Founded in 2021 and headquartered in Oslo with offices in London, Glasgow, and Stockholm, the company operates across 15 countries serving SMB through Enterprise merchants. The platform's core product suite includes Guest Checkout, Trade Account, In-store POS, Instalments, Order Creator, and Merchant Portal, distributed via direct API integration, e-commerce plugins (Shopify, WooCommerce, Magento), white-label partnerships, and banking channels. Two's underlying technology stack centers on two proprietary AI engines: Delphi (credit decisioning in under 2 seconds with 7x higher limits than traditional bureaus) and Frida (real-time fraud prevention processing 5,000+ transactions per second). The company also operates TwoNet, a cross-border trust infrastructure connecting buyers and sellers with pre-approved credit through partnerships with Santander, ABN AMRO, DNB, and Allianz Trade.
Two generates revenue primarily through transaction fees on B2B BNPL facilitation, where merchants receive upfront payment while buyers pay on net terms, and through recurring trade credit services including credit decisioning, fraud protection, and payment risk management. The company employs a multi-channel go-to-market combining product-led growth (self-serve integration in under 30 seconds), enterprise field sales targeting merchants with minimum €10M monthly transaction volume, and channel partnerships with banks and payment platforms. Its customer base spans over 500 merchants and 100K+ companies across verticals including building materials, consumer electronics, B2B marketplaces, robotics and hardware, SaaS, automotive, office supplies, HoReCa, and travel, with named enterprise customers including Komplett, Elkjøp, NetOnNet, and Building Materials Nationwide. The company reported a 354% revenue CAGR since 2021 and projected over 150% year-over-year revenue and payment volume growth for 2025.
Two firmographics
Firmographics- Name
- Two
- Legal name
- Two AS
- Website
- https://two.inc
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Two is a B2B payments platform providing net terms infrastructure that enables merchants to offer buy-now-pay-later financing and trade credit to business buyers. Its AI-powered credit and fraud engines power instant credit decisions across 15 countries, serving SMBs to enterprises in sectors including electronics, building materials, and marketplaces.
- Ownership category
- akta.pro rank
Two industry classification
Industry- Product category
- B2B Payments and Trade Credit Software
- NAICS
- Other Nondepository Credit Intermediation (52229), Sales Financing (522220), Activities Related to Credit Intermediation (5223)
- SIC
- Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- B2B / Invoice-Based BNPL (Trade Credit at Checkout) (FSAGAIAC)
- akta.pro secondary industries
- Merchant-Integrated BNPL (Checkout POS Financing) (FSAGAIAA), B2B Trade Credit at POS (SME Installment/Invoice-at-Checkout) (FSAKAFAO), B2B Marketplaces & Wholesale Platforms (BPAMAGAD), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)
Keywords
Where Two is headquartered
LocationHeadquarters
- HQ city
- Oslo
- HQ country
- Norway
- HQ region
- Europe
Offices4 records
Markets served
Two business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- B2B BNPL Transaction Fees: Two provides net terms and BNPL solutions to merchants, charging transaction fees for credit facilitation. Merchants receive upfront payments while buyers pay on terms.
- Trade Credit Services: Revenue from providing instant credit decisions, fraud protection, and payment risk management to merchants processing B2B transactions.
- Upfront Payments: Two provides merchants with immediate payment on orders, then collects from buyers on net terms, generating revenue through the spread and processing fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Enterprise B2B Payments Platform |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels6 records
Two product offering
Product offeringCore offering
Two provides a B2B payments and net-terms platform that enables merchants to sell to other businesses on credit through checkout, trade accounts, in-store POS, and installments. Underpinning the platform are proprietary AI engines (Delphi for credit decisioning and Frida for fraud detection), exposed both directly to merchants and as Risk-as-a-Service to banks and partners.
Product overview
Two is a B2B payments platform providing net terms infrastructure that enables businesses to offer flexible payment solutions. The platform operates on a unified architecture comprising core checkout products (Guest Checkout, Trade Account, In-store POS, Instalments), enterprise tools (Order Creator, Merchant Portal), AI-powered risk engines (Delphi for credit, Frida for fraud), and the TwoNet trust infrastructure network. Risk-as-a-Service (RaaS) provides enterprise clients with real-time credit and fraud decisioning capabilities. The platform integrates with major banks (Santander, Allianz Trade, ABN AMRO, DNB) and supports operations across 15+ countries.
Differentiator
Problem solved
Functional benefit
Products and services
- Guest Checkout Online checkout flow that lets B2B buyers purchase from a merchant without an existing trade account, using AI-driven credit decisioning in seconds. Targeted at B2B merchants selling online across verticals such as electronics, building materials, and robotics.
- Trade Account Recurring net-terms trade account for B2B buyers to purchase from a merchant on credit, with Two underwriting the buyer and managing collections. For B2B merchants seeking to offer ongoing credit-based purchasing relationships.
- In-store (POS) Point-of-sale solution that brings Two's B2B credit decisioning and net-terms flows into physical retail and trade-counter environments. For B2B merchants with in-store or trade-counter sales.
- Risk-as-a-Service (RaaS) Productized credit and fraud decisioning technology that Two licenses to partners and financial institutions so they can underwrite B2B transactions using Two's Delphi credit and Frida fraud engines. Targeted at banks, lenders, and platforms needing AI-driven B2B risk infrastructure.
- Order Creator Tool that lets B2B buyers build and submit orders to merchants within Two's flow, supporting structured B2B purchasing workflows. Targeted at B2B merchants and their buyers needing streamlined order creation.
- Instalments B2B buy-now-pay-later instalment option for merchants to offer buyers at checkout, splitting purchases into scheduled payments underwritten by Two. For B2B merchants selling higher-ticket goods.
- Two for Banks Banking distribution channel that lets banks embed Two's B2B credit and risk infrastructure into their own offerings. Targeted at banks such as Santander, ABN AMRO, and DNB to launch B2B trade credit products.
Quantifiable outcome
- 20% higher conversion rate for merchants
- +8 more outcomes
Companies that use Two
Customer profileNamed customers7 records
Segments9 records
Ideal customer profiles3 records
Two technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
AI capability5 records
Feature5 records
Two partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and flagship.
- DNBcoreStrategic partnership to launch B2B BNPL solution across the Nordics, leveraging DNB's banking infrastructure and Two's AI-driven payment technology. Aims to transform manual, slow invoice processes with real-time credit assessment and flexible payment options.
- SignicatcoreReal-time B2B buyer authority verification across Europe, combining Signicat's identity infrastructure with Two's B2B payment platform for instant confirmation of legal authority to bind companies to purchases.
- ElkjøpcoreDeployment of B2B payment solution across Norway, Sweden, Denmark, and Finland, both online and in 400+ physical stores. Includes instant credit approvals and omnichannel integration.
- KomplettcoreLaunch of Nordics' first Risk-as-a-Service platform automating fraud and credit checks in milliseconds, verifying businesses and buyers in real time for Komplett's B2B operations.
- QlirocoreIntegration of Two's B2B BNPL into Qliro's checkout for unified B2C and B2B payment experience across the Nordics. Enables instant credit, built-in risk protection, and flexible payment terms.
- AvardacoreWhite-label partnership combining Two's B2B BNPL technology with Avarda's B2C expertise for unified checkout in Sweden, Norway, Denmark, and Finland.
- ABN AMROcorePartnership to launch 'Pay on Invoice' B2B payment solution in the Netherlands. Provides flexible credit options and guarantees payments for ABN AMRO's clients with plans for European expansion.
- YapilyOpen Banking provider for Credit Builder feature enabling higher credit limits through banking data analysis
- Santander X Allianz TradeflagshipFlagship global B2B BNPL partnership for large multinationals, combining Santander's banking functions, Allianz Trade's 100+ years of credit insurance experience, and Two's B2B payment technology.
Scale indicators17 records
Recent moves6 records
Expansion highlights6 records
Two competitors and assessment
Company assessmentDirect peers
- Float: UK-based B2B spend management and flexible credit card provider offering pay-later solutions to businesses. Overlaps with Two on credit-based B2B payment products for SMBs and mid-market.
- Balance: B2B checkout financing platform enabling merchants to offer net terms and installment payments. Overlaps directly with Two's Guest Checkout, Trade Account, and B2B BNPL at checkout offerings.
- Hokodo: London-based B2B BNPL and trade credit platform offering net terms at checkout and invoice financing to merchants across Europe. Directly competes with Two on product, target merchants, and AI-driven underwriting.
- Billie: Berlin-based B2B BNPL provider offering instant invoice financing and net terms at checkout to SMBs across Europe. Closely comparable to Two in product offering, merchant ICP, and AI-based underwriting approach.
- Apruve: US B2B payments platform offering net terms, trade credit automation, and accounts receivable workflows to merchants. Competes with Two on B2B credit decisioning and net-terms infrastructure.
- TreviPay: US-headquartered B2B payments and net terms platform serving enterprise buyers and suppliers globally. Competes with Two in B2B trade credit at checkout and is a key competitor as Two expands into the US.
- Karmen: French B2B BNPL startup offering instant financing and deferred payment to SMBs at checkout. Comparable product wedge and target market as Two, with a similar API-first approach to merchant integration.
Broad incumbents
- Stripe Capital: Embedded lending and working-capital product from Stripe, sitting within Stripe's broader payments and financial infrastructure platform. Represents a well-capitalized incumbent that can offer B2B credit to merchants without a standalone integration.
- Klarna: Global BNPL leader that has launched B2B offerings alongside its dominant B2C business. A broader incumbent that competes for the same merchant relationships and is expanding into net terms and B2B financing.
Emerging players
- Resolve Pay: B2B net terms and trade credit automation platform for B2B marketplaces and software platforms. Comparable as an emerging player focused on B2B marketplace payment flows, intersecting with Two's B2B Marketplaces vertical.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Two social profiles
Digital presenceTwo compliance and trust
Trust signalCompliance2 records
Two financial estimates
Financial estimateRevenue estimate
Valuation estimate
Two leadership team
Management profileNumber of profiles
Profiles9 records
Two subsidiaries and ownership
Company hierarchySubsidiaries2 records
Two funding detail
Funding detailFunding overview
Funding rounds4 records
Investors13 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Two M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Two
What does Two do?
Two provides a B2B payments and net-terms platform that enables merchants to sell to other businesses on credit through checkout, trade accounts, in-store POS, and installments. Underpinning the platform are proprietary AI engines (Delphi for credit decisioning and Frida for fraud detection), exposed both directly to merchants and as Risk-as-a-Service to banks and partners.
Is Two a public or private company?
Two is a private company. It is classified as venture growth investor backed and is currently operating.
When was Two founded?
Two was founded in 2021. It employs 101 to 250 people.
Where is Two based?
Two is headquartered in Oslo, Norway, in the Europe region.
How does Two make money?
Three revenue lines are on record. B2B BNPL Transaction Fees are the primary driver. The others are trade Credit Services and upfront Payments.
Who are Two's main competitors?
Direct peers on record are Float, Balance, Hokodo, Billie, Apruve, TreviPay and Karmen. Broad incumbents are Stripe Capital and Klarna. Resolve Pay is listed as an emerging player.
Does Two have an API?
Yes. Two offers a comprehensive API and developer platform for B2B payments integration. The platform supports flexible net terms, credit decisioning, fraud prevention, and payment processing through REST APIs with documentation available at docs.two.inc. Developer documentation is at docs.two.inc.
What industry is Two in?
Two's product category is B2B Payments and Trade Credit Software. Its primary akta.pro industry code is FSAGAIAC, B2B / Invoice-Based BNPL (Trade Credit at Checkout), with a secondary code of FSAGAIAA, Merchant-Integrated BNPL (Checkout POS Financing). Its NAICS code is 52229 and its SIC code is 6153.