Mynt raises a cool $23M on a $210M valuation to build a smarter expense card for SMEs

Growth of Mint and Its Focus on SMEs

Mint, a startup from Sweden, has experienced rapid growth by providing an AI-based platform for corporate cards and spend management specifically designed for small and medium enterprises (SMEs). In just one year, its customer base surged from 3,000 to 12,000 SMEs, driven by a painful realization of the challenges these businesses face in expense management. Co-founders Balsar Salen and Johan Obermeyer pinpointed these pain points from their experiences in larger companies and saw an opportunity to create a niche solution tailored to SMEs, presenting Mint as a bridge between banking and accounting services. With a recent funding round of €22 million, Mint is now poised to expand beyond the Nordic region into the UK and other European markets, significantly enhancing its valuation to approximately €200 million.