Swedish fintech Mynt secures €22M Series B
Summary
The Series B round brings Mynts total funding to over 50M.With the incoming capital, Mynt plans to expand into the UK and other European markets, broaden its product offering and capitalise on growing demand for spend management among SMEs.Mynts cutsomer base is made up largely of Nordic SMEs, to whom it offering corporate cards integrated with accounting systems. This platform is designed for banks, ERPs, and fleet and mobility companies to enable them with proactive spend management and corporate card issuing capabilities. "We share a common belief that SMEs remain neglected by the traditional banking sector, and that by enhancing existing solutions with advanced tech, they can prioritise growth and reduce administrative costs. We are humbled by the confidence that Vor, CNI and Incore have placed in us and look forward to continue delivering best-in-class embedded financial services across Europe and the UK.Peter Nichols, Partner at Vor Capital, added: As Mynt continues to extend its market leadership in Sweden and expand across the Nordic region, we are thrilled to support their growth. By offering its end-to-end spend management and issuing infrastructure as a service to leading ERPs, banks, and fleet & fuel providers, Mynt Platform is positioning itself as a key player in the embedded finance industry.