Finnish fintech Enfuce has raised €7 million in Seris B funding, including a €5 million investment from Chinese behemoth Tencent.
One of Enfuce’s prior investors Maki.vc invested the other €2 million, bringing the total amount raised by the Nordic-based card issuing and payment processing services to €15 million.
The firm last received €10 million in a mix of equity and debt funding in November 2019 upon the release of its carbon tracking app, including venture debt from Nordea, LähiTapiola, and Finnvera.
Established in 2016, Enfuce currently employs 70+ staff in the Nordics and has close to 10 million end users on its platform.
Monika Liikamaa , co-founder & CEO at Enfuce, says: "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.”
With the investment, Enfuce is settting its sights on M&A opportunities to help speed growth across Europe and globally.
“Since the beginning, we have set the ambitions to scale globally, and the latest investment into Enfuce is the first step towards that goal”, says co-founder and COO Denise Johansson