Enfuce has announced an €8.5m investment round, led by Vitruvian Partners with participation from Maki.vc and Visa. This follows Enfuce’s €45m Series C funding round initiated in 2021. Enfuce has raised a total of €62m to date.           

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 payment 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. 

Enfuce hopes to accelerate expansion in 2024

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 Enfuce hopes this will accelerate its expansion across key European markets, such as Benelux, Germany, and France.

Monika Liikamaa, co-founder & co-CEO, said: “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.”                       

Denise Johansson, also co-founder & co-CEO, commented: “This investment represents more than mere financial backing for us. It’s the continuation of an extensive and productive partnership between Visa and Enfuce. Collaboration stands at the core of our Nordic DNA and we’re empowered to continue focusing on uniting visionary minds and cutting-edge technology to create secure, scalable solutions that fuel innovation with the unwavering support of Visa.”    

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By GlobalData