Visa Backs Mynt in €22M Funding Round
Hey Payments Fanatic!
The payments giant Visa has invested in Stockholm-based Mynt, a spend management platform tailored to SMEs. Alongside the capital injection, Visa and Mynt announced a broader reseller partnership, reinforcing a collaboration that began in 2023. With this deal, both companies aim to reach deeper into the European SME ecosystem—one API and card at a time.
Mynt’s journey started in 2018, built around the idea that spend control should be as seamless as issuing a card. In just 12 months, the company quadrupled its client base—from 3,000 to 12,000—while reaching month-on-month profitability in September. Its tools already integrate with popular accounting systems across the Nordics, and the platform is expanding its reach into banks, ERPs, and even fuel card providers.
The investment is part of a €22 million Series B round, bringing Mynt’s total funding above €50 million. The company is now valued at €175 million. While numbers offer one part of the story, the real narrative might lie in the dual-channel strategy: Mynt becomes a Visa reseller, and Visa, in turn, distributes Mynt’s SaaS offering.
Philip Konopik, regional managing director, Visa Nordics & Baltics, says: “We are thrilled to invest in Mynt as they continue to grow following several years of joint value-creating collaboration. Another great example of Nordic fintech innovation where Visa is deepening collaboration with Mynt, where our combined capabilities will enable our clients and partners to bring market leading propositions and services to Small and Medium sized Businesses across Europe.”
Read more global Payments industry updates below 👇 and I'll be back on Monday!
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INSIGHTS
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GOLDEN NUGGET
Here is a comparison of Key Stats and the latest (2024) Financial Reports:
𝗞𝗲𝘆 𝗦𝘁𝗮𝘁𝘀👇
𝗔𝗱𝘆𝗲𝗻
• Founded: 2006
• Valuation: $52.3B
• Countries Operated In: 190
• Employees: 4,345
• Revenue: $2.1B (+23% YoY)
• Processed Volume: $1.34T (+33% YoY)
• Profit: €925.2 million
• Free Cash Flow: $1.7B (+27% YoY)
• Market Share: 9%
• Clients: Facebook, Microsoft, Tesla, Lidl, Uber, Netflix
𝗦𝘁𝗿𝗶𝗽𝗲
• Founded: 2010
• Valuation: $91.5B
• Countries Operated In: 50
• Employees: 8,550
• Revenue: $5.1B (+28% YoY)
• Processed Volume: $1.4T (+38% YoY)
• Profit: Profitable
• Free Cash Flow: $2.2B (+100% YoY)
• Market Share: 17%
• Clients: 50% of Fortune 100 (Nvidia, PepsiCo, NewsCorp, Comcast)
Read my complete comparison article for more info.
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