FinTech startups in Denmark
There are 677 FinTech startups in Denmark which include Lunar, Pleo, Saxo Bank, Spiir, Cardlay. Out of these, 232 startups are funded, with 96 having secured Series A+ funding, and 3 achieving unicorn status.
Over the past 10 years, an average of 35 new companies have been launched annually. Notably, several of these startups have been founded by alumni of Copenhagen Business School, Columbia University and INSEAD.
Here is the list of top FinTech startups in Denmark
1. Lunar
Developer of a digital bank for consumers and businesses. It offers services such as deposit accounts, money transfers, bill payments, and NFC-enabled debit cards for online or offline purchases. Its application is available for download from Android and iOS platforms.
Key facts about Lunar
- Founded Year: 2015
- Location: Aarhus (Denmark)
- Stage: Series D
- Total Funding till date: $671M
- Investors: Seed Capital, Heartland Ventures and 22 Others
- Latest Funding Round: Series D, May 01, 2024, $*****
- Tracxn Score: 79/100 What is this?
2. Pleo
SaaS-based provider of expense management solutions for business travel. They provide solutions that include automated expense reports, accounting tools, receipt matching, accounting integration, fraud detection, and more. It provides corporate expense cards to employees, linked to a mobile app. It also offers real-time notifications, categorization of purchases, and integration with accounting systems. It offers an app-based platform that is available on iOS and Android devices.
Key facts about Pleo
3. Saxo Bank
Online platform for trading in forex, options, and CFDs. The company offers a platform for trading tools and market insights. Featured include a self-managed investment platform, automated investment and trading strategies, trading tools, market insights tools, and more.
Key facts about Saxo Bank
- Founded Year: 1992
- Location: Copenhagen (Denmark)
- Stage: Acquired
- Total Funding till date: $548M
- Investors: ES Consultancy (Singapore) Ltd, Damgaard Company and 5 Others
- Latest Funding Round: Series C, Oct 01, 2019, $*****
- Tracxn Score: 72/100 What is this?
- Competitors Rank: 3 of 5,174 Competitors
4. Spiir
Automated expense tracking and budgeting platform for individuals. Bank accounts can be linked to the application with expense monitoring, distribution of the expenses over various categories, and a graphical representation of the costs shown to the user. On the basis of expense tracking, automated budgeting can be done.
Key facts about Spiir
- Founded Year: 2011
- Location: Aarhus (Denmark)
- Stage: Series A
- Total Funding till date: $24.3M
- Investors: Danske Bank and DNB
- Latest Funding Round: Series A, Apr 19, 2021, $*****
- Tracxn Score: 62/100 What is this?
- Competitors Rank: 1 of 6 Competitors
5. Cardlay
Cardlay provides corporate cards white label solutions for banks and card issuers. It features solutions for issuing, loading, and managing corporate cards. It offers card management solutions for bank’s corporate customers and their employees. It also offers tools for KYC, customer identification, travel expense management, VAT computation, ERP integration, and more.
Key facts about Cardlay
- Founded Year: 2016
- Location: Odense (Denmark)
- Stage: Public
- Total Funding till date: $41.9M
- Investors: SEB Venture Capital, Seed Capital and 13 Others
- Latest Funding Round: Series B, Feb 08, 2022, $*****
- Tracxn Score: 62/100 What is this?
- Competitors Rank: 1 of 6 Competitors
