Zevoy Receives €15 Million in Funding

Financial technology services provider, Zevoy announced today that it has secured €15 million in the Series A funding round led by Blossom Capital. Some of the well-known European investors, including Maki.vc and Brightly Ventures, also took part in the round.

Zevoy highlighted that the capital injection will help the company's expansion in new markets. In total, the fintech firm aims to enter 8 new markets in Q2 of 2022. According to Zevoy, the company is expected to secure a credit institution license this year.

Christoffer Rosqvist, the CEO of Zevoy, outlined the growing popularity of digital tools in the payments sector. According to Rosqvist, the financial technology company is adding more than 100 customers per month in Finland and Sweden.

“Expense management is a big pain point for many companies and their employees: it's time-consuming and the processes are often frustrating. To solve this, Zevoy offers an All-In-One business card (virtual or physical) with which you can scan receipts, match purchases with receipts, manage and forward expenses digitally into accounting,” Rosqvist explained.

European Markets

The new funding will assist Zevoy’s expansion plans in different European markets. The company aims to become a prominent expense management solution provider in the EU region.

“The Zevoy team has a successful track record in financial services and their experience shines through as they clearly understand the needs of business users today. By offering credit and prepaid debit, as well as an easy-to-use and intuitive expense management system, Zevoy can serve any business, small or large. Opening up the addressable market in such a way has driven rapid growth, and we’re excited to support the team in turning their vision into a reality,” Ophelia Brown, the Founder of Blossom Capital, said.

Earlier this year, financial technology firm Khanza secured $38 million in equity and debt financing. The equity investment was led by Quona Capital.