Danish Payment Firm Cardlay Secures $6M, Appoints New CTO

The Danish payment company Cardlay has received a capital injection of 6 million USD (DKK 40 million) and simultaneously attracted one of Europe's best Chief Technical Officers. The company has thus moved two big steps closer to becoming the world's most attractive and preferred payment partner for business customers.

The capital injection has been invested via Cardlay's current investors and will be used to finalize an integrated solution for commercial payment, integrate another large international bank into the portfolio as well as deliver a large order to a German customer.

With the new capital injection, Cardlay can continue its journey towards becoming the world's most attractive and preferred payment partner for business customers. This ambition must be fulfilled through Cardlay's innovative solutions that deliver an integrated and reliable user experience for banks and card issuers.

To lead the way for the technological part of the growth journey, Cardlay has attracted Morten Gade Christensen as the new CTO Morten Gade Christensen has 19 years of executive level experience with responsibility for IT and development in global companies and brings domain knowledge from, among others, Bankdata and Energinet. In addition, he has previously been appointed Denmark's and Europe's best CTOs.

"The timing of Morten's employment is optimal. 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," says Cardlay's CEO, Jørgen Christian Juul, who expects that Cardlay will more than double the number of employees during 2022/23.