Swedish expense management company Findity has raised SEK 50m ($4.9m) as it bolsters its international expansion efforts.
The capital was raised by private investors, such as former Altor partner Johan Blomquist, former Meltwater CEO Niklas de B?sche, as well as others.
With the fund, the FinTech company plans to expand internationally and boost product development efforts.
It is also going through a comprehensive rebrand to bring its two brands together under Findity. Its other brand was Companyexpense.
Findity offers products for expense claims, entertainment, mileage and per diem, which are currently used by over 30,000 customers.
Findity CEO Patrick Olsson said, “We see significant demand from businesses that want to improve employees’ everyday lives, and the investment allows us to strengthen our position internationally. We want customers and partners to enjoy easier expense management.
?The new united brand helps us continue to focus on innovation and improve every day for people using our product.”
FinTech investment in the Nordics reached a new record in 2021, according to data by FinTech Global. Last year, a total of $3.2bn was invested through 127 transactions, compared to $1.6bn in 83 deals in 2020.
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