Finland Nordics

Finnish Payments Firm Enfuce Raises €7 Million in Funding Round Led by Tencent

by Fintechnews Baltic March 18, 2021

Nordic-based card issuing and payment processing services provider Enfuce has raised €7 million in Series B funding led by Tencent who had invested €5 million in the company.

Meanwhile, Enfuce’s prior investors Maki.vc invested the other €2 million, bringing the total amount raised by the company to €15 million so far.

With the investment, Enfuce is set to gain more growth in Europe as well as globally, and explore the opportunities of company acquisitions to speed up growth.

Enfuce reportedly has a global customer base spanning 16 countries to provide innovative payment, open banking, and sustainability services for corporates and fintech SMEs.

Monika Liikamaa

“In this investment, it was very important to us that Dr. Ling Ge now has joined our Board of Directors. Tencent sees that we will bring new things to payment technologies, especially speed.

 

They’re also interested in the impact we can make through My Carbon Action – our carbon footprint calculator connected to payments”,

said Monika Liikamaa, Co-Founder and CEO at Enfuce.

Enfuce has also appointed Dr. Ling Ge, Chief European Representative at Tencent, to Enfuce’s Board of Directors for strategic guidance as the Nordic fintech aims to scale to Europe as well as globally.

Dr. Ling Ge is a seasoned technology professional with a PhD in Quantum Computing from Oxford University, and she has developed executive management expertise in both academic and business settings over the course of her career.

Dr. Ge is currently driving Tencent’s European presence as the London-based Chief European Representative & General Manager, responsible for strategic partnerships with multiple private and public sector stakeholders, including tech companies, universities, and government bodies across the EU.

Dr. Ling Ge

“We are excited to be part of the Enfuce journey as they set out to revolutionize the payment industry.

 

With the team’s industry knowledge and capability, we believe it will make advancement and bring even more benefits to the industry in future”,

said Dr. Ling Ge, Chief European Representative and General Manager at Tencent.

Featured image: Enfuce team