Finnish Card-as-a-Service Fintech Enfuce is reportedly set to launch operations in the United Kingdom after finalizing a €45 million round back in December 2021.
Established by co-CEOs Monika Liikamaa and Denise Johansson, Enfuce recently expanded its international presence in Germany and France and currently claims more than 16 million active card clients for whom it handles nearly €1 billion in transfers yearly.
Enfuce is a one-stop shop or comprehensive solution for firms that want to issue cards to their clients, supporting debit, credit, prepaid, gift, fleet and fuel card programs in any form – plastic, digital and/or tokenized – for consumer, commercial and B2B apps, as well as digital/online wallets.
The firm also provides a carbon tracking tool for determining the emissions of transactions.
Enfuce claims to have doubled client numbers during the last year, with clients such as Pleo, St1, Gee Finance, Qred and Rabobank.
Co-founder Liikamaa stated:
“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 professional team in the United Kingdom is newly-appointed EVP of Fintech Sales, Peter Baxendale, who arrives at the firm with an established track record from previous roles at Retail Decisions (now part of ACI), Elavon and Modulr.
Denise Johansson remarked:
“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.”
As covered recently, Enfuce’s “turnkey” service will allow NBX to offer credit and debit cards “with loyalty-boosting crypto rewards.”
NBX, which claims to be the “leading” Nordic crypto exchange, has selected Enfuce, one of Europe’s major Fintech companies, “as its card service provider.” The partnership allows NBX “to offer engaging, loyalty-based Visa credit and debit cards to its customer base, initially in the Nordics.”
Cryptocurrencies are “becoming more mainstream by the day, with more than 100 million people around the world owning crypto.”
The cryptocurrency market “was worth over $3 trillion last year,” according to CoinGecko.
Additionally, developments in blockchain technology which underpins digital assets “holds promise for real-world use cases.”
Norwegian Blockchain Exchange (NBX) “lets anyone take part in this trend.” An established front-runner in its space, NBX “enables people and institutions to buy and trade popular cryptocurrencies like Bitcoin and Ethereum – securely and with below-average fees.”
To realize its vision of providing a more complete financial experience, NBX decided “to expand into payments.”
After a brief discovery process, NBX found that Enfuce had “the right capabilities to deliver a rewards-based payment card.” Together, they are launching NBX-branded cards that “kick back a small percentage of a purchase in the customer’s preferred cryptocurrency.”