Mazepay, an Aarhus, Denmark-based company that provides procurement and B2B payments platforms, announced that it raised €4 million in growth funding to expand further across Europe.
The round was led by Scale Capital, with participation from international investment firm Hambro Perks and London-based early-stage venture capital firm Outward VC.
Søren Aabel Hammer, Founder and CEO of Mazepay, comments: “With the increased uncertainty that many businesses are facing, and the ever-growing need to cut costs, create transparency of spend, and reduce risk, our solution has never been more important. The B2B payments market is growing at a rapid pace, and our vision is to be the go-to platform for businesses that require a safer and more efficient way to handle purchases.”
Mazepay counts the likes of Polestar, Orsted, Advania, Better Collective, Configit, and Sweco as customers and has partnerships with leading financial service organizations, including AirPlus International, Nordea, and SEB Kort.
The company’s payment solution platform has also been integrated within the Mastercard ICCP (In Control Commercial Payments), which is connected with over 70 banks globally and enables a new bank to go live on the platform within 30 days of registration.
Its next-generation SaaS technology automates B2B financial transactions, making them as simple and seamless as possible.
Through strategic partnerships with both international and national banks and financial organizations, Mazepay ensures the global scalability of its fintech platform, which is helping to simplify B2B payments for customers in 21 countries across five continents and also introduces the unique payment solution to their own customers.
Company: Mazepay A/S
Raised: €4.0M
Round: Growth Round
Funding Month: February 2023
Lead Investors: Scale Capital
Additional Investors: Hambro Perks, and Outward VC
Company Website: https://www.mazepay.com/
Software Category: Procurement Software
About the Company: Founded in 2018 by Søren Aabel Hammer, Dan Kortegaard Nielsen, and Thomas Dragsbæk, Mazepay is a Danish fintech platform that simplifies long-tail procurement and B2B payments for customers in 21 countries across five continents. Mazepay’s platform is designed for medium- and large-scale enterprises and provides a compliant ecosystem in which they can manage all their B2B spending. The platform is designed to streamline the process of managing thousands of suppliers and tens of thousands of invoices by eliminating the need to obtain authorization and signoff from multiple stakeholders. Mazepay empowers medium- and large-scale enterprises to easily manage all B2B spending within a trusted and compliant global ecosystem. It employs a team of 28 people, spanning 11 nationalities.
Source: https://www.mazepay.com/blog/mazepay-raises-4m