Enfuce secures €7 mn in Series B funding led by Tencent

By Megha Bhattacharya

Nordic-based payment services provider Enfuce has secured €7 million in Series B funding led by Tencent. The round also saw the participation of the FinTech’s prior investors Maki.vc. Enfuce has been previously supported by a mix of debt and VC financing from multiple Finnish investors: Nordea, LähiTapiola, and Finnvera. The FinTech has also appointed Dr. Ling Ge, Chief European Representative at Tencent, to Enfuce’s Board of Directors for strategic guidance as to the Nordic fintech scales to Europe as well as globally.

“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”, commented Monika Liikamaa, Co-Founder & CEO at Enfuce.

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. Recently, Finnish FinTech Enfuce has been selected by accounting services provider Talenom in a bid to access compliant open banking service for launching the latter’s comprehensive freemium small customer accounting software TiliJaska in Finland along with further expansion into Sweden.

“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”, commented Dr. Ling Ge,
Chief European Representative and General Manager at Tencent.

“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 Denise Johansson, Co-Founder & COO at Enfuce.