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- Finnish expense-management startup Zevoy has raised $16.4 million in Series A funding.
- The company, founded in 2020, wants to expand to eight new markets in 2022.
- Check out the fintech startup’s pitch deck below:
Finnish fintech startup Zevoy has raised $16.4 million in Series A funding.
Founded in 2020, Helsinki-based Zevoy offers small- and medium-sized businesses debit cards which link to expense management software with an eye to reducing the cost and time taken to process employees’ expenses.
The startup’s founder, Christoffer Rosqvist, says managing expenses is a major pain point for small companies. It’s also under-served, he said, estimating the market to be $185 billion in Europe alone.
Zevoy predicted a “fintech race” in expense management, and said the startup was adding more than 100 customers each month. The firm plans to launch in eight new markets during the April quarter.
Funding will go towards expanding the company’s current headcount of around 45 by more than 100, growing its European footprint by entering other Nordic and Baltic nations alongside Poland, and ramping up its marketing campaign, Rosqvist said.
The company offers both physical and virtual business cards from Visa, and automates the process of matching purchases with scanned receipts and forwarding expenses into digital accounting software.
Check out Zevoy’s pitch deck below: