Published 1st March, 2023
Two and trustshare have partnered to help B2B marketplaces become the new financial centres of the digital economy by offering the financial services customers need at the point of sale.
Who is trustshare?
trustshare offers financial infrastructure, helping marketplaces become the financial centre of their industries by offering all the financial services customers need at the point of sale. This includes trade finance, working capital, credit insurance, escrow, FX, and global payments.
Preparing for the future
B2B transactions are changing and have been for some time. And while large corporations have had easier access to banking services that help facilitate net term offerings, SMBs and marketplaces have struggled to offer the same flexibility to their customers.
By 2025, 80% of B2B transactions will happen online, leading many sellers to adopt a digital-first approach to meet their customers’ new buying preferences. Additionally McKinsey found that 96% of B2B buyers might make a purchase in a fully end-to-end, digital self-serve model.
What does the partnership mean for B2B marketplaces?
In reference to the potential of this partnership, trustshare’s CEO and Co-Founder Nick Fulton had this to say:
“The opportunity for marketplaces is huge - McKinsey predicts that 70% of digital commerce will be through a marketplace by 2025. And so far, only a small portion of this global $110bn opportunity has been unlocked by a handful of platforms.”
“trustshare and Two’s new partnership is looking to change this by bringing the entire fintech ecosystem to a B2B marketplace’s fingertips across payments, escrow, banking and trade finance."
The developments in buyer-seller relationships include everything from trade finance to credit insurance. And thanks to this partnership, trustshare can now instantly open credit lines in checkout of up to $/€/£ 250,000 for business buyers on B2B marketplaces in 12 countries across North America and Europe – a first for global fintech.
Two’s Head of Expansion Enrique Elias added: “We’re excited to partner with trustshare, B2B marketplaces are redefining how businesses transact. With our joint solution, Two makes it easy for businesses to purchase with interest-free trade credit”.