Fintech Startup Zevoy Raises EUR 15 Million in Series A Round

Zevoy announced its new Series A funding round. The round was led by Blossom Capital with top European investors Maki.vc and Brightly Ventures taking part in the round.

Zevoy, currently the fastest moving expense management company on the market, was founded in August 2020 with a clear mission to do what many have tried to do before: create a simple, smart, seamless, and efficient Expense Management solution for companies. Now, with the new funding, Zevoy is looking to launch in eight new markets in total during Q2 of 2022.

"The Zevoy team has a successful track record in financial services and their experience shines through as they clearly understand the needs of business users today. By offering credit and prepaid debit, as well as an easy-to-use and intuitive expense management system, Zevoy can serve any business, small or large. Opening up the addressable market in such a way has driven rapid growth and we're excited to support the team in turning their vision into a reality,"said Ophelia Brown, Founder of Blossom Capital.

The experienced team has hammered together FSA approvals, as well as gained Visa Principal Membership and launched an all-in-one Visa card running on Zevoy ecosystem. All this was done in less than a year, a record-breaking time for a new fintech company.

"Expense management is a big pain point for many companies and their employees: it's time-consuming and the processes are often frustrating. To solve this, Zevoy offers an All-In-One business card (virtual or physical) with which you can scan receipts, match purchases with receipts, manage and forward expenses digitally into accounting,"explains Christoffer Rosqvist, CEO of Zevoy."Zevoy focuses on underserved markets and especially growing companies have proven to be a sweet spot for Zevoy meaning companies that have high creditworthiness and profitability."

Zevoy is expected to secure a Credit Institution license in 2022 and already offers both credit and prepaid options, compared to its competitors that only offer the prepaid option. In the next few months, Zevoy will already expand its operations to multiple European markets, where the startup is looking to become the leading expense management solution – as it has done in less than a year in Finland.