Cardlay snags $4m to help banks serve corporate clients

Danish card and expenses management platform Cardlay has picked up $4m from undisclosed private investors.

The funding coincides with the launch of the company’s white label solution for banks as more and more traditional institutions look to offer clients fintech solutions.

Copenhagen-based Cardlay aims to help banks serve corporate customers with its platform that enables them to manage payments cards.

The platform is designed to allow users to load and manage company-controlled cards as well as increase efficiency by automating processes such as expenses reporting.

By automating these processes the startup aims to help banks cut costs themselves as well as offer clients more fintech-related services.

Cardlay founder and CEO Joergen Christian Juul said, “While banks have a wide understanding of infrastructure, they simply do not possess the ability to understand their customers.

“We at Cardlay want to provide end users with a great intuitive front-end to connect with top tier banks and provide them with a much-needed digital tool to automate processes of corporate account management.

“Using Cardlay as a front-end card platform, banks can easily provide added value to their customers in order to retain them and ultimately create whole new revenue streams from digital services.”

Launched earlier this year the company previously picked up an undisclosed round of funding in August.

Copyright © 2016 FINTECH GLOBAL

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