Zevoy, an expense management company, has raised €15m in a Series A funding round led by Blossom Capital.
The funding round also saw participation from new investors such as Maki.vc and Bright Ventures.
Founded in 2020, Zevoy is an expense management business that is looking to create a simple, seamless and efficient expense management solution for companies.
Since its launch, the company has secured FSA approvals and has gained Visa Principal Membership as well as launching an all-in-one Visa card running on Zevoy ecosystem. Zevoy is also expecting to secure a credit institution licence this year as well as expand its operation to multiple European markets.
Zevoy is looking to launch in eight new markets during the second quarter of this year with its new funding.
Zevoy CEO Christoffer Rosqvist said, “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. Zevoy focuses on underserved markets and especially growing companies have proven to be a sweet spot for Zevoy meaning companies that have high creditworthiness and profitability.
“We foresee a FinTech race taking place during 2022 and Zevoy is gearing up. In Finland and Sweden alone, we are adding on 100+ new customers per month and we feel confident that we have what it takes to replicate our secret sauce on eight new markets this upcoming quarter only.”
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