– We see this as an important step in our ongoing European expansion, having Vor joining us as a strategic investor to further boost growth initiatives with their significant network and know-how in accounting software and spend management globally.

Mynt offers a corporate card solution and spend management solution that integrates with major Nordic ERPs, automating expenses and eliminates the heavy administration that typically comes with card purchases for a company. In 2021 Mynt became the fifth company in Sweden to be granted a European wide E-money license and a credit card issuer.

- In the past year we have experienced incredible growth, both in terms of customers and transaction volume. Our solution with corporate cards, credit and spend management - integrated with accounting - solves major pain points for businesses of any size, says Baltsar Sahlin, CEO and Co-Founder.

In 2022, Mynt announced an exclusive partnership with Fortnox, whereby Mynt will issue corporate cards within the Fortnox platform. Fortnox serves nearly 500,000 customers in Sweden, a substantial proportion of the economy, and the Fortnox Card will be offered to all Fortnox users. Early in 2023, Mynt subsequently announced a similar card issuing partnership with Accountor Group in Finland, that will go live later this year.

- We identified the opportunity to offer our technology, combined with our credit card issuing capability, directly into ERPs and accounting software platforms. This means the ERP can offer branded corporate credit cards directly to their incumbent users, with a full spend management solution inextricably linked to their general ledger. This is a highly compelling for proposition for both the ERP and the customer, says Baltsar Sahlin.

The financing round creates an opportunity to further strengthen Mynt’s shareholder register and its Board, whilst providing incremental funding for growth, as the company prepares to substantially scale.

- Vor Capital brings a wealth of knowledge and strategic insight into both the accounting software and spend management industries globally, and with particularly strong knowledge and network within the Swedish market, having been a major investor in Fortnox for many years. We are excited to welcome Peter Nichols to the Board, says Baltsar Sahlin.

In Mynt, Vor Capital sees an opportunity to become the leading spend management platform in the Nordics.

- Mynt has shown exceptional traction to date and holds a unique position as the infrastructure behind spend management offerings of several leading ERP solutions across the Nordics, including the Fortnox Card in Sweden. This creates a highly compelling opportunity for Mynt to become the leading spend management platform in the Nordics. We are excited to be on board and to support Mynt on its continued journey, says Peter Nichols, Partner at Vor Capital.

Mynt AB is a Swedish spend management solution and card issuing partner founded in 2019. The company offers corporate credit cards integrated with accounting systems, automating expense management and helping companies spend smarter. Read more at mynt.com.

Vor Capital LLP (“Vor”) is a London-based investment fund manager with deep expertise in accounting software and adjacencies. Vor is also a major investor in Fortnox, the leading cloud-based accounting software platform in Sweden. Peter Nichols, Partner at Vor, will join the Board of Mynt following completion of the Series A Extension

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