Issuer processing company Enfuce is looking to play its cards right with the unveiling of its cloud-native Card as a Service (CaaS) platform in the UK.
Enfuce, which is based in Espoo (near to Helsinki), is in an enthusiastic mood. The Finnish fintech firm points out its deals in the Nordic market – such as banking group OP, Swedish neobank Rocker and Danish expense management platform Pleo. It has also raised a total of €62 million (£52 million) in several funding rounds.
Monika Liikamaa, Co-Founder and Co-CEO of Enfuce, says: “We are launching in Europe’s largest and most competitive fintech hotbed [and] Enfuce does the heavy lifting of card issuing and processing, empowering businesses to focus on their core operations.”
Denise Johansson, Co-Founder and Co-CEO of Enfuce, adds: “Smart digital finance and embedded payments are triggering urgent demand for corporate digitisation.”
Enfuce provides packaged EMI licensing, BIN sponsoring, programme management, card management and processing.
- Konsentus Secures Open Banking Deal with Enfuce in Finland – read the news here
According to Enfuce, it supports debit, credit, prepaid, gift, fleet and fuel card programmes in any form – plastic, digital and/or tokenised – for consumer, commercial and B2B applications, along with digital wallets.
Leading Enfuce’s team in the UK is newly-appointed Executive Vice President of Fintech Sales, Peter Baxendale. He worked at such companies as Retail Decisions (ReD) now ACI, Elavon and Modulr.
As Liikamaa mentioned above, the UK is a competitive place, and embedded finance is popular here. Some homegrown talent that has been recently active includes Sonovate, Liberis, Weavr and TrueLayer.
Enfuce was founded in 2016 in Finland, and is used by more than 30 firms, including energy company St1, small business finance provider Qred and neobank indó,
The fintech company also has offices in Germany, Latvia and Sweden.
In June, Enfuce selected Konsentus’ infrastructure platform, Verify, which allows financial institutions to transact within open banking and open finance ecosystems.
