Finnish fintech company Enfuce has successfully secured €7 million in Series B funding, with notable backing from Chinese tech giant Tencent, which contributed €5 million to the round.
Another of Enfuce’s existing investors, Maki.vc, provided the remaining €2 million, bringing the total funding raised by the company to €15 million. The Nordic-based firm previously acquired €10 million in a combination of equity and debt in November 2019, following the launch of its carbon tracking application. This earlier funding included venture debt from institutions such as Nordea, LähiTapiola, and Finnvera.
Founded in 2016, Enfuce currently employs over 70 individuals across the Nordics and serves nearly 10 million end users on its platform.
Monika Liikamaa, co-founder and CEO of Enfuce, stated, “Tencent recognizes our potential to innovate in payment technologies, particularly in terms of speed. They are also interested in the impact we can facilitate through My Carbon Action, our carbon footprint calculator linked to payments.”
With this fresh capital, Enfuce aims to explore mergers and acquisitions to accelerate its growth in Europe and beyond. Co-founder and COO Denise Johansson emphasized, “From the outset, we have aimed for global expansion, and this recent investment is a crucial initial step toward achieving that goal.”