Visa has broadened its collaboration with Mynt, a fintech company based in Sweden, by extending their reseller partnership and making a financial investment in the firm.
Mynt, founded in 2018 in Stockholm, has established itself as a key player in spend management solutions within the Nordic markets.
Partnering with Visa since 2023, Mynt provides corporate cards to over 16,000 businesses, facilitating seamless integration with ERP and accounting systems to streamline finance administration.
The partnership aims to address the rising need for effective spend management solutions among small and medium-sized enterprises (SMEs). Visa’s investment is part of Mynt’s Series B funding round, demonstrating its commitment to fostering innovative fintech developments and enhancing payment solutions for businesses throughout Europe.
Visa Nordics & Baltics regional managing director Philip Konopik said: “We are thrilled to invest in Mynt as they continue to grow following several years of joint value-creating collaboration.
“Another great example of Nordic fintech innovation where Visa is deepening collaboration with Mynt, where our combined capabilities will enable our clients and partners to bring market-leading propositions and services to small and medium-sized businesses across Europe.”
As part of this expanded partnership, Mynt will act as a reseller partner for Visa across Europe, increasing its market reach and capabilities. Visa will have the ability to directly offer Mynt’s SaaS solutions to issuers, which will simplify client onboarding processes and speed up market entry, aligning with Visa’s B2B strategy.
Mynt CEO and co-founder Baltsar Sahlin said: “We are excited to welcome Visa as an investor and to become their reselling partner.
“We are impressed by Visa’s team and this partnership will allow us to further scale our solutions across Europe and the UK. Visa’s investment is also a testament to the strength of our technology, capabilities and our vision to simplify and streamline business expenses.”
The collaboration will enable Visa to better serve its clients and the underserved SME market. Mynt’s platform offers features such as auto-reconciliation and seamless integration with accounting software, providing valuable insights into spending and reducing administrative workload.
