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Mazepay has raised $4.0M across 1 funding round.
Key people at Mazepay.
Mazepay has raised $4.0M in total across 1 funding round.
Mazepay delivers a specialized platform designed to streamline and control long-tail corporate spend. The solution integrates virtual card payments with comprehensive modules for online payments, subscription management, and supplier onboarding. Its core functionality includes automated workflows and robust data analytics, empowering organizations to manage indirect procurement efficiently, mitigate financial risks, and ensure compliance across all spending activities.
The company was co-founded in 2018 by Søren Aabel Hammer, Dan Kortegaard Nielsen, and Thomas Dragsbæk. Their collective insight stemmed from recognizing significant inefficiencies and lack of control within corporate long-tail procurement and payment processes. They aimed to simplify these complex challenges, enabling employees to make purchases easily while providing finance and procurement departments with clear oversight and management capabilities.
Mazepay serves large corporate entities seeking to optimize their finance and procurement operations. It caters to a broad range of industries and functions, offering tools that enhance transparency and improve audit trails for every transaction. The company's vision is to simplify corporate spending by fostering a more efficient global ecosystem for B2B payments and procurement, ultimately empowering employees and enhancing organizational control.
Mazepay has raised $4.0M in total across 1 funding round.
Mazepay's investors include Hambro Perks, John Taysom, Jonathan Milner.
Mazepay has raised $4.0M across 1 funding round. Most recently, it raised $4.0M Seed in February 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 1, 2023 | $4M Seed | — | Hambro Perks, John Taysom, Jonathan Milner | Announced |
Key people at Mazepay.
Mazepay is a technology company that provides a Software-as-a-Service (SaaS) platform designed to automate and streamline vendor management and purchase order workflows, specifically targeting the long-tail procurement challenges faced by finance and procurement professionals in large enterprises. The platform helps organizations gain complete control and transparency over low-value, high-volume supplier spending, reducing operational costs and risks while improving efficiency. Key features include customizable workflows, virtual cards for secure payments, automated receipt collection, supplier onboarding, and integration with existing ERP and finance systems. Mazepay primarily serves finance and procurement teams in software and enterprise companies, enabling smarter, faster decision-making and operational scalability[1][2][3][6].
Founded in 2018 and headquartered in Aarhus, Denmark, Mazepay was born from the ambition to solve inefficiencies in corporate long-tail procurement processes. The founders, including Søren Aabel Hammer, developed the idea after extensive interviews with CFOs, CPOs, and finance professionals from large global companies, identifying a widespread lack of transparency and control in managing numerous low-value suppliers. Early traction came through partnerships with leading European banks and Mastercard, enabling Mazepay to integrate its platform into established financial ecosystems. The company has since expanded with offices in Copenhagen and Novi Sad, Serbia, and continues to evolve its solution to meet the complex needs of indirect procurement[1][3][4].
Mazepay rides the growing trend of digital transformation in corporate procurement and B2B payments, particularly addressing the historically neglected "long-tail" spend category—small, frequent purchases that cumulatively represent significant cost and risk. The timing is critical as enterprises increasingly seek to automate indirect procurement to improve financial control, reduce fraud, and enhance operational efficiency. Market forces such as the rise of SaaS platforms, demand for real-time data integration, and the need for compliance in global supply chains work strongly in Mazepay’s favor. By simplifying and securing long-tail procurement, Mazepay influences the broader ecosystem by enabling finance and procurement teams to shift focus from manual tracking to strategic decision-making[1][3][5].
Looking ahead, Mazepay is well-positioned to expand its footprint in the enterprise procurement space by deepening integrations with ERP and financial systems and enhancing AI-driven analytics for spend optimization. Trends such as increased regulatory scrutiny, growing complexity in supplier ecosystems, and the push for sustainability in procurement will shape its journey. Mazepay’s influence is likely to evolve from a niche long-tail spend solution to a broader platform that drives procurement innovation and financial governance across industries. Its continued partnership with banks and payment networks will be key to scaling globally and maintaining competitive advantage[1][3][4].
Mazepay’s mission to simplify and modernize long-tail procurement processes aligns with the increasing demand for transparency and control in corporate spending, making it a critical player in the future of enterprise finance technology.
