Enfuce is a Helsinki-based card issuer and payment processor that offers modular, cloud-based payment processing capabilities. It supports debit, credit, prepaid, gift, fleet and fuel card programs for consumer, commercial and B2B applications. The company positions itself as a partner for innovative payments solutions and counts customers such as Pleo, OKQ8, and Memo Bank. Led by co-founders and co-CEOs Monika Liikamaa and Denise Johansson, Enfuce emphasizes innovation and security in its platform. In November 2023 Enfuce raised €8.5M in follow-on funding, bringing its total raised to €62M. The company intends to use the funds to prepare for its next phase of growth, target enterprise customers, and accelerate expansion across Benelux, Germany, and France heading into 2024. Enfuce, founded in 2016 and based in Helsinki, provides an API-first card issuing and payment processing platform marketed as card-as-a-service. Its core product lets clients rapidly issue cards and process payments across use cases including expense management, neobanks, fuel cards, loyalty programmes, and corporate and consumer lending. Customers named in the article include Pleo, St1, Gee Finance, Qred, and Rabobank. The company has expanded into the French and German markets and counts over 13 million active card users who account for close to €1 billion in transactions processed annually. Management says it has more than doubled its number of payment customers and ARR since launching the CaaS offering. Enfuce plans to use new capital to continue international expansion and to further develop its card issuing and processing platform. Enfuce provides payment, open banking, and sustainability services — including its My Carbon Action carbon-footprint calculator tied to payments — across 16 countries. The company serves corporates and fintech SMEs and emphasizes speed and payment-technology innovation. Its My Carbon Action product is highlighted by investors as a differentiator in sustainability-linked payments. Enfuce recently raised new capital to support geographic expansion and potential acquisitions. The funding round is intended to expand Enfuce’s growth in Europe and beyond. The company is positioning the capital to accelerate product and market expansion while continuing to serve its existing multinational customer footprint. Enfuce offers payment and open banking platforms used by banks, fintechs, financial operators and merchants, and has launched a sustainability product called My Carbon Action. The company counts partnerships with Mastercard, Visa, Amazon Web Services, D-mat and clients such as Pleo. Enfuce serves about 8 million end-users through its platform. Founded in 2016, the firm has expanded its product categories to include an open banking platform and sustainability services. Management says the company aims to scale globally and leverage new funding to grow those offerings. The article highlights rapid growth in the Nordics and recent significant partnerships as evidence of market traction.

Total raised

$80M

Funding rounds

5

Latest round

Equity

Latest activity

Nov 2023