Swedish fintech firm Mynt and Nordea have forged a partnership aimed at introducing a business credit card and spend management solution for small and medium-sized enterprises (SMEs) across Sweden, Norway, Denmark, and Finland.
This initiative is set to be operational by 2026.
The collaboration seeks to address the financial challenges faced by SMEs, which contribute over half of Europe’s economic output. Often working with limited resources, these enterprises require efficient financial tools to facilitate operations and manage daily expenses.
The partnership will leverage Mynt’s spend management technology and Nordea’s extensive platform to provide a comprehensive solution that helps SMEs save time and improve operational efficiency.
This collaborative product will integrate business card services with expense management features such as automated receipt handling, real-time spending controls, ERP integration, and full accounting automation.
By incorporating Mynt’s infrastructure into Nordea’s offerings, the solution aims to deliver a digital-first toolset for SMEs.
Key features of the solution include automated receipt processing, compliance with onboarding and KYC/AML regulations, live expense reporting, and streamlined exports to accounting software. The aim is to simplify SME financial operations from card management to reimbursements and reporting processes.
Mynt estimates that their technology reduces expense report processing time by up to 95%, potentially saving SME teams between 10 to 20 hours monthly.
The partnership also expects to offer benefits such as automatic receipt matching, spending controls before and after purchases, real-time financial visibility, and seamless ERP synchronisation.
Mynt CEO and co-founder Baltsar Sahlin said: “Neobanks and spend management solutions have seen strong traction in the past years, as SMEs increasingly seek more flexible, digital-first tools to manage their spend and finances.
“This partnership proves that a change is underway for SME banking. By embedding Mynt’s spend management platform directly into Nordeas offerings, we are reshaping how banks support business customers across Europe.
“Together we are facilitating an efficient, modern and accessible financial solution for SMEs. One that saves time, reduces admin and allows them to do what they do best: grow and deliver for their consumers.”
For Mynt, this marks its first major collaboration with a bank, signifying an important step in its European expansion strategy. This development follows a €22m Series B funding round led by Vor Capital with participation from Visa.
