We are excited to announce our latest investment of €1.75M in Mazepay, a groundbreaking SaaS company transforming how medium and large enterprises manage their B2B spending. Founded in 2018 in Aarhus, Denmark, by CEO Søren Aabel Hammer, COO Dan Kortegaard Nielsen, and CTO Thomas Dragsbæk, Mazepay’s innovative platform addresses the complex challenges of corporate spend management.

Mazepay’s solution is designed to streamline B2B financial transactions, providing a seamless and automated experience for enterprises dealing with long-tail spend issues. Their platform, integrated within the Mastercard ICCP (In Control Commercial Payments) system and connected to over 70 banks globally, enables new banks to onboard within 30 days. This powerful tool is already trusted by major companies such as Polestar, Orsted, Advania, Better Collective, Configit, and Sweco and is supported by partnerships with financial giants like AirPlus International, Nordea, and SEB Kort.

Our investment in Mazepay reflects our commitment to advancing SaaS solutions within the fintech infrastructure space, particularly in addressing the critical need for efficient corporate spend management in mid-market businesses. These companies currently grapple with fragmented processes and outdated, manual methods that limit their efficiency. Mazepay is perfectly positioned to lead this transformation.

Jupe Arala, General Partner at Vendep Capital, commented:
“Mazepay’s commitment to delivering their solution to businesses eager to gain better control over their spending and optimize their processes has remained unwavering. They have demonstrated a fantastic ability to forge partnerships with the largest banks in the world, making them the go-to solution for spend management. Furthermore, they’ve shown that their SaaS approach to process management delivers significant value, making a tangible difference for the companies they serve.”

Dan Kortegaard Nielsen, COO & co-founder of Mazepay, added:
“We’ve recently expanded our focus to offer the Mazepay solution to small and medium enterprises in collaboration with our banking partners. This requires us to deepen our knowledge and expertise in delivering SaaS solutions to the SME segment, and Vendep Capital brings invaluable experience in this area.”

The new investment will help Mazepay expand its commercial team to accelerate growth across Europe and North America. The company is set to broaden its customer base and continue its mission to simplify and automate B2B financial transactions for enterprises globally.

About Mazepay

Mazepay is a Danish fintech platform that simplifies long-tail procurement and B2B payments for customers in 21 countries across 5 continents. Founded in 2018, Mazepay employs a team of 28 people, spanning 11 nationalities. Investors include Outward VC, Hambro Perks, Scale Capital and Vendep Capital.