Mynt raises 150 mSEK to help European businesses automate expense management through its smart corporate card and spend management solution.
May 10, 2022
Mynt, a Swedish fintech offering smart company cards that simplifies expense management, has raised 150 mSEK to scale up growth beyond Sweden and revolutionize how expense management is done in Europe.
  • The round follows a monthly volume growth of 20-50% during recent months
  • The funding will enable Mynt to expand its smart corporate card offering into more advanced corporate payment tools, and build out powerful integrations with partners such as Fortnox
  • Mynt will now accelerate growth in new European markets boosted by Mynt’s recently approved E-money license

The round is led by top growth fund CNI Nordic, and among new investors are Fredrik Österberg, co-founder of Evolution Gaming, and Rutger Arnhult as well as existing investors Luminar Ventures.

– We welcome the strong and committed investors onboard at this exciting stage. This will help us scale our growth further and to enable even more businesses in Sweden and other European countries to automate their accounting and expense management, says Baltsar Sahlin, CEO and co-founder at Mynt.

During Q1 Mynt has seen a 20-50% monthly growth rate of spend on its card, with many customers being high growth tech companies themselves with high monthly spend. The idea is to build smart solutions around all corporate spend that makes everyday business life easier.

– We’re really impressed with what Mynt has achieved in such a short time. Everything from the product to the growth numbers we’re seeing - all done by a relatively small but extremely efficient and skilled team. We very much look forward to supporting and further developing Mynt together with Baltsar and his team, says Erik Ejerhed, Founding Partner at lead investor CNI Nordic.

Recently, Mynt announced it will be issuing an integrated company card together with Fortnox - one of the major accounting systems in the Nordic region. With the roll out of the solution to Fortnox’s 450,000 customers, Mynt is poised to be a key part of the Nordic financial ecosystem.

– We strongly believe in the joint offering with Fortnox, especially because of the simplicity and value add for the end customers, says Baltsar Sahlin.

Mynt also recently received its EU wide E-money license and with the new funding the ambition is to quickly expand in several new European countries in the coming year.

‍

Otto Klingspor
Head of Marketing
press@mynt.com
Nyheter från Mynt

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