Cardlay from Denmark Raises $4 Million to Usher Traditional Banks Into the Digital Age

Cardlay, a front-end card management platform and cardholder application, announced a $4 million funding round from investors including SEED Capital and Thorleif Krarup. At the same time Cardlay makes an official release of its white label solution for banks.

The company, led by CEO and founder Jørgen Christian Juul, is now forming partnerships with top-tier banks to serve as a front-end platform, assisting in optimization of their corporate account management and capitalizing on existing portfolios.

Cardlay’s card management platform optimizes banks’ business processes by providing their corporate customers with an on-demand tool to manage payment cards. The software allows banks to automate an average of 50% of their handling resources, resulting in significantly higher profit. Furthermore, Cardlay provides banks with a digital platform so they can further capitalize on existing corporate client portfolios, offering additional digital services for cardholders and corporations to increase customer engagement, loyalty and earnings.

Prior to this $4M capital infusion, in August 2016, Cardlay added about $150k in fresh capital from Thorleif Krarup, the ex-Nordea CEO. Thorleif Krarup also sits on the board of the company.