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Visa has deepened its footprint in the European fintech space with a strategic investment in Swedish spend management platform Mynt, reinforcing a growing trend toward embedded finance and regulatory technology solutions tailored for small and medium-sized enterprises (SMEs). The move also includes an expanded reseller agreement that will enhance Mynt’s service reach across Europe.
Founded in Stockholm in 2018, Mynt specializes in delivering integrated corporate card solutions to Nordic SMEs, enabling seamless synchronization with accounting systems. Since partnering with Visa in 2023, the platform has positioned itself as a key enabler of digital spend management, compliance automation, and financial transparency for businesses navigating increasingly complex regulatory frameworks.
Powering SME Growth with RegTech-Driven Spend Management
The collaboration aligns with Visa’s commitment to supporting financial innovation and regulatory compliance through scalable fintech infrastructure. “We are thrilled to invest in Mynt as they continue to grow following several years of joint value-creating collaboration,” said Philip Konopik, Regional Managing Director, Visa Nordics & Baltics. “This is another standout example of Nordic fintech innovation where our combined capabilities will empower SMEs across Europe with market-leading solutions.”
Mynt’s recent €22 million Series B funding round—announced in December and valuing the firm at €175 million—has now brought its total capital raised to over €50 million. Visa’s investment forms part of this milestone round, aimed at fueling the company’s next phase of growth.
In the past year, Mynt has scaled rapidly, achieving profitability and expanding its customer base from 3,000 to over 12,000 SMEs. The company’s API-powered platform offers end-to-end spend management and embedded finance infrastructure, catering to ERP systems, banks, and fleet management providers—an approach well-suited for modern compliance needs, including real-time spend tracking, data accuracy, and risk mitigation.
Strengthening Regulatory Compliance Through Fintech Partnerships
As part of the expanded agreement, Mynt will become a reseller partner for Visa, while Visa will also distribute Mynt’s software-as-a-service (SaaS) product directly to issuers. This mutual collaboration will enhance the delivery of regulatory-compliant spend solutions to European SMEs, enabling them to manage corporate spending more efficiently, reduce fraud risks, and maintain better internal controls.
Baltsar Sahlin, CEO and co-founder of Mynt, highlighted the strategic impact of the partnership: “We are excited to welcome Visa as an investor and to become their reselling partner. This partnership will allow us to further scale our solutions across Europe and the UK.”
With expansion plans targeting the UK and broader European markets, Mynt is positioned to meet the increasing demand for transparent, automated, and regulation-aligned financial management solutions. The partnership also reflects a wider industry shift toward RegTech innovations that empower SMEs with real-time visibility, improved governance, and compliance assurance.
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