Franklin, a Danish fintech startup targeted at e-commerce businesses, unveils its solution today while announcing a strategic partnership with NIUM, an e-money institution and Visa principal member, which will provide financial services for Franklin’s customers.
Bank accounts, money transfers, cards, and loans are the foundation of any business. Still, many entrepreneurs – especially e-commerce businesses – have high demands for their partners and are frustrated with traditional “one-size-fits-all banks.” Additionally, e-commerce businesses are underrepresented among venture investments, making them even more reliant on their banking solutions to access capital, manage cash flow, etc. Franklin aims to challenge the status quo and believes the financial industry needs a fresh approach.
Franklin helps e-commerce businesses gain visibility into their finances and marketing, as well as automating manual tasks such as receipt management and reporting. The partnership with NIUM allows Franklin’s customers to get Visa cards dedicated to marketing purchases with 0.5% cashback on all card spending. Furthermore, they offer integrations with e-commerce platforms like Shopify, marketing channels like Google Ads and Meta Ads, and accounting systems like Dinero and Economic, helping e-commerce businesses gain insights and automate essential parts of their operations.
“Franklin has been well received with a lot of positive feedback, and we look forward to the collaboration with NIUM in this first, but important, step in Franklin’s journey. NIUM has quickly proven itself as a trusted partner, and its state-of-the-art technology aligns perfectly with our vision. The partnership with NIUM brings us closer to achieving our ambition of becoming the leading financial platform for e-commerce businesses.”
says Nikolaj Bomann Mertz, co-founder of Franklin
Franklin is founded besides Nikolaj by Johan Frølich, and Peter Klit, a team with extensive experience in fintech, e-commerce, and marketing. Additionally, the company has received investments of 350k EUR from various business angels.
