Denmark’s FinTech Cardlay Closes $6M Financing Deal

The Danish FinTech B2B company Cardlay has received a $6 million cash infusion and hired a chief technical officer, the company announced Wednesday (March 9).

Cardlay’s CEO Jørgen Christian Juul said the latest capital addition will allow the company to take the next step on its ambitious growth journey to be the world’s preferred payment partner for business customers. It will also help to more than double the number of employees this year and next.

“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,” Juul said in a statement.

Cardlay did not say which investors were included in this round.

One year ago, Global PayTech Ventures (GPT), the Miami-based capital and private equity firm, announced its investment in Cardlay but did not reveal the amount of the deal.

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To help lead the way for the company’s tech journey, Cardlay hired Morten Gade Christensen as the new chief technology officer. He brings 19 years of executive experience in IT and development in global companies. He previously worked at Bankdata and Energinet.

“The timing of Morten’s employment is optimal,” Juul said in a statement. “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 can build an organization and attract strong competencies, which will be necessary, Juul added.