New million-dollar capital injection gears Cardlay for continued growth journey

The Danish fintech company Cardlay has received a capital injection of 6 million USD (DKK 40 million) and simultaneously attracted one of Europe's best Chief Technical Officers. The company has thus moved two big steps closer to becoming the world's most attractive and preferred payment partner for business customers.

With a capital injection of 6 million USD (DKK 40 million), the Danish fintech company Cardlay is now geared for the next steps on its ambitious growth journey.

The capital injection has been invested via Cardlay's current investors and will be used to finalize an integrated solution for commercial payment, integrate another large international bank into the portfolio as well as deliver a large order to a German customer.

"The capital injection makes up a fantastic boost from our current investors who really show their unconditional faith in and support for our growth strategy," says Cardlay's CEO, Jørgen Christian Juul.

With the new capital injection, Cardlay can continue its journey towards becoming the world's most attractive and preferred payment partner for business customers. This ambition must be fulfilled through Cardlay's innovative solutions that deliver an integrated and reliable user experience for banks and card issuers.

“We must continue to provide integrated payment and reimbursement infrastructure to global partners such as SAP Concur and FIS. At the same time, the capital injection will be used to complete an integrated solution for commercial payment that makes it easier for companies to integrate budgets, authorization processes, payments, and reconciliation in a safe, simple and automated flow, minimizing errors and fraud. Finally, we are to integrate another large international bank into the portfolio and deliver a large order to a German customer,” Jørgen Christian Juul says.

Attracts one of Europe's best CTOs

To lead the way for the technological part of the growth journey, Cardlay has attracted Morten Gade Christensen as the new CTO Morten Gade Christensen has 19 years of executive level experience with responsibility for IT and development in global companies and brings domain knowledge from, among others, Bankdata and Energinet. In addition, he has previously been appointed Denmark's and Europe's best CTOs.

“The timing of Morten’s employment is optimal. He brings knowledge and insight that is invaluable for our next steps, and he is just the right person to bridge the gap between the commercial and the technological part of the company, which he now must further develop. At the same time, he is able to build an organization and attract strong competencies, which will be necessary,” says Jørgen Christian Juul, who expects that Cardlay will more than double the number of employees during 2022/23.

Cardlay's new IT director looks forward to contributing to the company's continued growth journey.

“Cardlay is an incredibly interesting and exciting company with attractive partners, skilled employees and an ambitious growth strategy that is well supported by the company's investors. This is something I really respect, and I look forward to continuing and developing the strategy with a strong focus on ensuring the quality of Cardlay's product portfolio and operations for the future,” says Morten Gade Christensen, who will take the position as CTO from the 1st of June 2022 where he will take over from Jens Sørensen, who will continue as CEO of Kontolink.

For more information, please contact:

Jørgen Christian Juul, CEO, Cardlay, tel. 4273 0110

Morten Gade Christensen, CIO, Cardlay, tel. 2333 8850

About Cardlay:

Cardlay is a Danish B2B fintech partner within payment services and infrastructure for companies. Cardlay provides scalable white-label solutions that enable banks, card issuers, processors, and other financial institutions to stay relevant and serve their customers with the latest intelligent solutions.