Mynt raises 3 MEUR and introduces smart corporate card for small businesses that integrates with cloud accounting

Stockholm based Fintech startup Mynt today introduced a smart corporate card, specifically designed to help European startups and small businesses. The card integrates directly into the business’ accounting system, making expense management simple for the card user.

“Companies spend way too much time on receipts and expenses, in some cases up to a day per week”. Mynt’s solution, which has been in beta since June, has received overwhelming positive feedback and there is already a long pipeline of companies on the waiting list.

At its core, Mynt’s offering unites banking, accounting, and financing to create a powerful digital financial solution for businesses.

“We see ourselves as a challenger to the traditional banks. But Mynt is not a replacement, we see the traditional banks as part of an ecosystem that is evolving. Mynt’s product is designed to work together with the business accounting system, and ‘over the top’ of any existing bank that the company uses.”

Together with the launch Mynt also announces a follow-on investment of 3 MEUR primarily from existing investors Luminar Ventures and Svea Ekonomi, on top of earlier rounds totalling 2.7 MEUR. Mynt already offers a digital line of credit to small businesses, which is based on open banking integrations. The lending product has grown fast and currently has over 5000 customers.

Mynt corporate cards: highlights

• Smooth onboarding
• Super easy expense management integrated into accounting system
• Use as prepaid or credit without any hassle
• Great benefits and rebates on purchases