Two

Business-to-business commerce generates enormous volumes, but the payment system underpinning it has remained surprisingly primitive. Most B2B transactions still happen via invoices with 30, 60, or 90-day terms, with slow credit onboarding processes, manual risk assessments, and inadequate fraud prevention. Sellers wait weeks to get paid; buyers struggle to obtain flexible credit terms from suppliers who do not know them. Two, a Norwegian fintech based in Oslo, has built the infrastructure to solve this problem. The company offers a Buy Now Pay Later service specifically designed for B2B transactions. The mechanics are simple in logic but complex in execution: Two provides immediate credit to business buyers at the point of purchase, while sellers receive payment immediately. Two handles the entire intermediate process — credit onboarding, risk assessment, fraud prevention, payment term management — and absorbs the credit risk. Revenue comes from percentage commissions that sellers pay on each transaction, along with interest and late payment fees. The B2B2B model allows sellers to offer flexible payment terms to their business customers without managing credit internally, increasing conversion rates and average order values. For buyers, access to immediate and predictable credit improves liquidity management. Two integrates automated underwriting and fraud prevention systems directly into the B2B checkout, reducing the time to onboard a new customer from days to minutes. This speed is the primary competitive barrier: traditional B2B credit systems are slow because they are manual; Two automates them without sacrificing risk assessment quality. The B2B payments market is significantly larger than B2C in terms of transaction value, but has historically received less attention from fintech innovation. Two positions itself in a space with high growth potential and a competitive landscape that is still far from consolidated.