Zevoy raises $16.4 million for expense management

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  • Finnish expense management startup Zevoy has raised $16.4m in Series A funding.
  • The company, founded in 2020, aims to expand to eight new markets in 2022.
  • Discover the pitch deck of the fintech startup below:

Finnish fintech startup Zevoy has raised $16.4m in Series A funding.

Founded in 2020, Helsinki-based Zevoy offers small and medium-sized businesses debit cards linked to expense management software with the aim of reducing the cost and time needed to process employee expenses.

The startup’s founder, Christoffer Rosqvist, says expense management is a major issue for small businesses. It is also underserved, he said, estimating the market at $185 billion in Europe alone.

Zevoy predicted a “fintech race” in expense management and said the startup was adding more than 100 customers every month. The company plans to launch in eight new markets in the April quarter.

The funding will be used to increase the company’s current workforce of approximately 45 people by more than 100, to increase its European footprint by entering other Nordic and Baltic countries alongside Poland and to intensify its marketing campaign. marketing, Rosqvist said.

The company offers physical and virtual Visa business cards and automates the process of matching purchases with scanned receipts and transferring expenses into digital accounting software.

Check out Zevoy’s pitch deck below:

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