Finland-based payment services provider Enfuce has raised €7 million in a recent Series-B funding.
€5 million is coming from Tencent, with the additional €2 million arriving from previous investor Maki. Prior investment was supported by a mix of dect and VC financing from Finnish investors Nordea, LähiTapiola, and Finnvera. As terms of the deal, Dr. Ling Ge, chief European representative at Tencent.
“Tencent sees that we will bring new things to payment technologies, especially speed. They’re also interested in the impact we can make through My Carbon Action – our carbon footprint calculator connected to payments”, comments Monika Liikamaa, Co-Founder & CEO at Enfuce.
Spanning 16 countries Enfuce provides payment, open banking, and sustainability services for corporates and other fintech SMEs. The funding is set to expand Enfuce’s growth in Europe and beyond, as well as eyeball future acquisitions to further accelerate growth.
“We are excited to be part of the Enfuce journey as they set out to revolutionize the payment industry. With the team’s industry knowledge and capability, we believe it will make advancement and bring even more benefits to the industry in future,”, commented Dr. Ling Ge.