Javier Perez, the former president of Mastercard Europe, has invested €8 million in Danish fintech Cardlay through his Global PayTech Venture fund.
Cardlay services commercial card issuers and banks with an expense handling, integrated virtual card and VAT reclaim platform
The new funding follows a recent deal with FIS to create a generic white label front-end platform and will be used to fuel the next phase of the partnership to create a joint product suite.
Perez in February invested €4 million in Danish subscription terminator startup Subaio, the first for Global PayTech Ventures. He joins the board of Cardlay as vice chairman.
CEO and founder of Cardlay, Jørgen Christian Juul says: “If Cardlay was an electric car company, the best person to attract to the board, would be Elon Musk. This is how I feel about attracting Javier Perez to our board. Javier’s extensive experience with developing innovative PayTech concepts and bringing them to the market will be of enormous benefit for Cardlay."