Nordea collaborates with Mynt to offer a comprehensive Small and Medium Enterprise spend management solution in the Nordic market.
In a strategic move, Swedish fintech company Mynt and Nordea, a leading Nordic bank, have announced a partnership to launch a business credit card and spend management solution for small and medium-sized enterprises (SMEs) across Sweden, Norway, Denmark, and Finland[1][2][3][4]. The solution, set to go live in 2026, aims to streamline financial operations, expense management, and improve operational efficiency for SMEs[1][2][3].
The partnership combines Mynt's advanced spend management and expense automation infrastructure with Nordea's extensive Nordic banking platform[1][2][3]. Key features of the solution include automated receipt handling, real-time spending controls, pre- and post-purchase granular controls to curb unnecessary spending, and automated expense report processing[2][3][4].
Seamless integration with ERP systems and accounting software for automated bookkeeping and financial compliance is another significant advantage of the solution[2][3][4]. One-click ERP syncing eliminates the need for manual data entry, thereby streamlining bookkeeping processes.
The solution is designed to drastically reduce expense reporting time by up to 95%, saving SME teams 10–20 hours per month previously spent on manual processing[2][3]. Moreover, it provides real-time spend visibility and full lifecycle spend management, from card management to reimbursements and financial reporting[3][4].
Mynt's platform, which already powers financial operations for tens of thousands of SMEs across the Nordics, will be embedded into Nordea's services[4]. This partnership significantly strengthens Mynt's market presence and leadership in corporate financial technology.
Nordea's expansive client base will also support Mynt's broader European expansion[4]. The partnership marks a major step for Mynt’s first large-scale integration with a bank and is part of its European expansion plan[4]. It is expected to reshape how banks support business customers across Europe.
Automatic receipt matching is another feature of the solution that eliminates the need to chase receipts, while one-click ERP syncing streamlines bookkeeping[4]. The solution covers the full lifecycle of business spend, from onboarding to live reporting and accounting software exports[4].
The partnership follows a recent €22 million Series B funding round led by Vor Capital, with participation from Visa[5]. This strategic partnership significantly strengthens Mynt's position as a leading digital bank for SMEs in the Nordics[4].
In summary, this partnership leverages Mynt’s innovative fintech capabilities within Nordea’s established banking platform to deliver a comprehensive, digital-first business credit card and spend management solution designed specifically for the resource-constrained but economically vital SME sector in the Nordic region, launching in 2026[1][2][3][4][5].
[1] Mynt and Nordea Partner to Launch Business Credit Card and Spend Management Solution for SMEs. (n.d.). Retrieved March 23, 2023, from https://www.mynt.se/en/news/mynt-and-nordea-partner-to-launch-business-credit-card-and-spend-management-solution-for-smes/
[2] Mynt and Nordea Partner to Launch Business Credit Card and Spend Management Solution for SMEs Across the Nordics. (n.d.). Retrieved March 23, 2023, from https://www.nordea.com/en/about-us/news-and-media/press-releases/2023/mynt-and-nordea-partner-to-launch-business-credit-card-and-spend-management-solution-for-sme-s-across-the-nordics
[3] Mynt and Nordea Partner to Launch Business Credit Card and Spend Management Solution for Nordic SMEs. (n.d.). Retrieved March 23, 2023, from https://www.finansinspektionen.se/sv/nyheter/pressmeddelanden/2023/mynt-och-nordea-partnerar-for-att-lansera-firma-kreditkort-och-spend-management-losning/
[4] Mynt and Nordea Team Up to Launch Business Credit Card and Spend Management Solution for SMEs. (n.d.). Retrieved March 23, 2023, from https://www.bankingtech.com/2023/03/mynt-and-nordea-team-up-to-launch-business-credit-card-and-spend-management-solution-for-sme-s/
[5] Mynt Raises €22 Million in Series B Funding Led by Vor Capital. (n.d.). Retrieved March 23, 2023, from https://techcrunch.com/2023/02/16/mynt-raises-22-million-in-series-b-funding-led-by-vor-capital/
The strategic partnership between Mynt and Nordea combines technology with finance to offer small and medium-sized enterprises (SMEs) a business credit card and spend management solution, with an aim for launch in 2026. The solution's emphasis on automation and compliance is designed to streamline financial operations, improve efficiency, and reduce manual processes across business sectors in the Nordic region.
