Cloud-bound Enfuce: Fintech pioneer, championing diversity and sustainability.

Key Points:

  • Enfuce has become a global leader in fully cloud-based card issuing and payment processing.
  • The Finnish fintech, established in 2016, processes €2 billion annually and has 16 million cardholders worldwide.
  • Enfuce has a strong commitment to sustainability, inclusivity, and diversity, with half of all managerial roles held by women.
  • Co-founders Monika Liikamaa and Denise Johansson raised €45 million in an impressive Series C funding round.

Started by Monika Liikamaa and Denise Johansson in 2016, Enfuce is a prominent global card issuer and payment processor boasting a fully cloud-based platform. After refusing a Managing Director role at a financial services company, Monika offered her infrastructure services through Enfuce. Denise abandoned a senior position at a Finnish bank to help establish Enfuce. The company processes annual transactions worth €2 billion for its 16 million global cardholders.

Aside from its payment services, Enfuce’s commitment to creating a diverse, inclusive, and equal workplace has garnered much attention. Women hold 50% of all managerial roles within the company, which employs over 120 individuals across offices in Finland, Germany, Sweden, and the UK, representing over 20 nationalities.

Enfuce’s resiliency and adaptability have been crucial in overcoming multiple hurdles, from the swift impact of the global pandemic to scaling from a team of 5 to a workforce of 150. Despite the challenges, Enfuce achieved profitability and distributed dividends within its first two years, making it a remarkable exception among fintech startups.

A €45 million Series C funding round, one of the highest ever recorded for a female-founded startup, further bolsters Enfuce. Monika and Denise attribute the success of this round to their understanding of unit economics, as well as their unique founder stories, which generated early interest in their venture.

As part of their commitment to corporate social responsibility and sustainability, Enfuce signed The Climate Pledge, aiming for net-zero carbon emissions by 2040. This initiative has involved both internal changes and pressure on associated partners to adopt sustainable practices.

Looking ahead, the leadership envisions increased sustainability and value-driven financial services and a stronger focus on customer loyalty and trust, reflecting changing consumer behavior. Monika and Denise also aim to strategically expand their company’s services geographically and in terms of breadth, while also implementing improved financial products and services.