Danish Fintech Cardlay has reportedly acquired $6 million (appr. DKK 40 million) and also attracted one of Europe’s IT directors.
The Fintech firm has now moved closer to becoming a preferred payment partner for business clients. With this latest capital injection, the Danish Fintech is now well-prepared for the next steps on its ongoing growth journey.
The proceeds have been invested via Cardlay‘s existing investors and will be used to finalize an integrated solution for handling commercial payment, integrate another major international bank into the portfolio along with offering a large order to a German client.
Cardlay’s CEO, Jørgen Christian Juul stated:
“The capital injection makes up a fantastic boost from our current investors who really show their unconditional faith in and support for our growth strategy,”
With the proceeds, Cardlay will continue its move towards becoming one of the most attractive payment partners for business clients. This goal must be fulfilled via Cardlay’s innovative solutions that offer an integrated and reliable customer experience for banks and card issuers.
Jørgen Christian Juul added:
“We must continue to provide integrated payment and reimbursement infrastructure to global partners such as SAP Concur and FIS. At the same time, the capital injection will be used to complete an integrated solution for commercial payment that makes it easier for companies to integrate budgets, authorization processes, payments and reconciliation in a safe, simple and automated flow, minimizing errors and fraud. Finally, we are to integrate another large international bank into the portfolio and deliver a large order to a German customer.”
In order to lead the way for the technological part of the Fintech firm’s growth plans, Cardlay has hired Morten Gade Christensen as the new IT director.
Christensen has around 20 years of executive level experience with responsibility for IT and development in major firms and brings key domain knowledge from Bankdata and Energinet.
Jørgen Christian Juul also noted:
“The timing of Morten’s employment is optimal. He brings knowledge and insight that is invaluable for our next steps, and he is just the right person to bridge the gap between the commercial and the technological part of the company, which he now must further develop. At the same time, he is able to build an organization and attract strong competencies, which will be necessary.”
Morten Gade Christensen commented:
“Cardlay is an incredibly interesting and exciting company with attractive partners, skilled employees and an ambitious growth strategy that is well supported by the company’s investors. This is something I really respect, and I look forward to continuing and developing the strategy with a strong focus on ensuring the quality of Cardlay’s product portfolio and operations for the future.”