The Danish fintech startup Cardlay has recently received a major capital injection amounting to more than DKK 1 million ($ 150000). The investment has been made by the previous CEO of Nordea, Thorleif Krarup, who also will be acting as chairman of the company’s board.
Cardley is a platform that streamlines expense management and administration for companies and gives instant feedback about transactions. Cardley was created with a global mindset and is currently offering EUR, USD, GBP, NOK, SEK, and DKK as currencies.
The company is fairly young and was founded only six months ago by the serial entrepreneur Jørgen Christian Juul. Thorleif’s confidence in the startup can partly be contributed to Jørgen’s impressive track record. In 2014 he was able to sell the startup Wallmob to the Norwegian company Visma. Wallmob was sold for an amount of DKK 100 million ($ 15 million).
“I can see that Jørgen has both well documented and extensive experience as a business leader in different contexts. He, furthermore, has a successful history, starting new companies,” Says Thorleif Krarup in an interview with Børsen.
Thorleif Krarup is taking the place of Morten Lund who will continue his work on the board as an ordinary member.
SCALABLE FOR A GLOBAL MARKET
Cardlay is currently operating in Denmark, Norway, and Sweden but the company has always aimed for international expansion. With this in mind, Cardlay has made sure to create a service, which is scalable and developed to work well with other platforms.
“The goal is to create an international market-leader. We have chosen to emphasize analysis and development beforehand because we are determined to be international,” says Jørgen Chirstian Juul.
With a rate of two new customers each day, Cardlay want to reach 100 customers before the 1’st of October. They have already closed 25% of the contracts, so the team is optimistic about hitting the mark.