Cardboard empowers secure purchasing without the need to share company cards, reduces operational risks from personal payments, and mitigates shadow IT by centralizing critical data management. The primary target customers are startups, scaleups, and SMEs.
Backing Cardboard’s bold vision is a leadership team with deep expertise in engineering, product management, marketing, and sales. Their experience spans successful startups like Otovo and Oda, as well as established giants like Cisco, L'Oréal, and Circle K Europe.
The global Software as a Service (SaaS) market is projected to reach $374.50 billion by 2028, with Europe contributing $95 billion and Norway US$1.94 billion. Cardboard aims to address inefficiencies by offering a comprehensive solution that simplifies SaaS management, helping companies maximize the value of their software investments.
“These businesses face significant challenges in managing their SaaS payments, which represent a critical and growing portion of their cost base. The market for tailored SaaS spend management solutions is largely untapped and underserved, providing a vast opportunity,” says Peder Hjermann, Investment Manager at RunwayFBU.
Seed round
The funding round of 21.3M NOK (1.9M EUR) was led by Skyfall Ventures, with participation from co-investors including us RunwayFBU and Sondo Capital.
Read about the investment news on Tech.EU, EU-Startups and Shifter.
