Female-driven Finnish Card-as-a-Service platform Enfuce is to launch in the UK following a €45 million funding round secured in December.
Founded by co-CEOs Monika Liikamaa and Denise Johansson, Enfuce recently expanded its geographic presence in Germany and France and cliams over 16 million active card users for whom it processes close to €1 billion transactions annually.
Enfuce is a one-stop shop for companies that want to issue cards to their customers, supporting debit, credit, prepaid, gift, fleet and fuel card programmes in any form - plastic, digital and/or tokenised - for consumer, commercial and B2B applications, along with digital wallets. The company also offers a carbon tracking toool for calculating the emissions of transactions.
The company claims to have doubled client numbers over the past year, with notable customers including Pleo, St1, Gee Finance, Qred and Rabobank.
Co-founder Liikamaa says: “Enfuce does the heavy lifting of card issuing and processing, empowering businesses to focus on their core operations with the reassurance of a trusted compliant partner helping them in their quests to drive growth and customer loyalty."
Leading Enfuce’s team in the UK is newly-appointed EVP of Fintech Sales, Peter Baxendale, who arrives at the company with a track record from previous posts at Retail Decisions (now part of ACI), Elavon and Modulr.
Denise Johansson comments: “The time is right for Enfuce to transform the UK payment market even further. Smart digital finance and embedded payments are triggering urgent demand for corporate digitisation, and Enfuce is ideally placed to bring our game-changing capabilities, like packaged EMI licensing, BIN sponsoring, programme management, card management and processing, to more companies across Europe."