Finland

Finland’s Enfuce Secures €8.5 Million Additional Investment for Germany and France Expansion

by Fintechnews Nordics December 6, 2023

Finland based Enfuce has secured an €8.5 million follow-on investment round led by Vitruvian Partners, with participation from Visa and Maki.vc.

This funding, following Enfuce’s successful €45 million Series C round in 2021 and brings Enfuce funding to a total of €62m to date.

Founded in 2016, Enfuce has grown to be an important player in the payments sector. Having been one of the first to bring payment processing to the public cloud, Enfuce is the partner of choice for innovative payments solutions for the likes of Pleo, OKQ8 and Memo Bank. As a global card issuer and payment processor that merges innovation, security, and expertise to create modular, cloud-based payment processing capabilities, Enfuce enables innovative fintechs, banks, and non-financial brands to seamlessly provide cards, digital wallets, and embedded finance solutions in a hassle-free and secure way.

This investment is designed to set Enfuce up for its next phase of growth, positioning the business to win in the enterprise segment. Heading into 2024, this will propel Enfuce’s expansion across key European markets, such as Benelux, Germany and France.

Monika Liikamaa

Monika Liikamaa, co-founder & co-CEO at Enfuce, comments:

“Visa’s trust isn’t just a validation of our business, it’s a testament to our significant growth during challenging economic times. Since our inception, we have been committed to rapidly scaling up to ensure the widespread deployment of our modular, scalable and advanced payment solutions that significantly simplify our customers’ lives. With Visa’s investment, we will continue to bring our bold vision of shaping the future of embedded finance to life.”

Featured image credit: Monika Liikamaa, co-founder & co-CEO at Enfuce