Centered around its card-as-a-service offer, Helsinki-based Enfuce has today announced an €8.5 million follow-on round. The investment is aimed at further bolstering the company’s presence in the Benelux, German, and French markets in 2024.
Visa on board
Enfuce’s €8.5 million injection of capital was led by Vitruvian Partners with Maki.vc, and Visa participating. Enfuce has previously participated in Visa’s Fintech Fast Track programme, one designed to help fintech and crypto companies bring new payments solutions to market.
Founded in 2016, Enfuce utilises an API-first card issuing and payment processing solution and provides clients including Pleo, OKQ8, and Memo Bank, the ability to offer their customers financial solutions at breakneck speed.
The startup has seen its product offer applied to areas such as expense management, neobanks, fuel cards, loyalty programmes, and corporate and consumer lending.
€2 billion annually
According to the startup, Enfuce is processing approximately €2 billion in transactions on an annual basis and it’s PCI-DSS certified platform guarantees 99.999% uptime.
On the investment, Visa regional managing director, Nordics and Baltics, Philip Konopik shared:
“This investment in our partner Enfuce, will allow them to grow their current business within issuer processing and BIN sponsorship by accelerating innovation through making Visa’s solutions widely available to the payment’s ecosystem.”
Lead image: Enfuce co-founders Denise Johansson and Monika Liikamaa (left to right). Photo: Uncredited.