Oslo-based startup Cardboard has raised €1.9 million in seed funding to scale its SaaS subscription management platform across Europe, starting with the Swedish and UK markets. The funding round was led by Skyfall Ventures, with additional support from RunwayFBU and Sondo. Cardboard’s platform helps startups, scaleups, and SMEs manage their SaaS subscriptions by centralizing data, reducing operational risks, and eliminating the need for company cards in purchases. The new capital will be used to accelerate market expansion and enhance their product offering, addressing the growing demand for SaaS spend management solutions.
Cardboard was created to address the challenges many businesses face in managing SaaS subscriptions. Recognizing that traditional solutions were often complex and difficult to navigate, the team behind Cardboard set out to develop a more intuitive platform. With a focus on simplicity and functionality, Cardboard provides a streamlined approach to subscription management, aiming to reduce the operational burden on companies. Headquartered in Norway, the company is expanding its reach across Europe with support from investors such as Skyfall Ventures, Sondo Capital, RunwayFBU, ProVenture, and a grant from Innovation Norway, as well as contributions from several angel investors.
“We are thrilled to back the remarkable team at Cardboard, who know what greatness looks like from their experiences at successful scale-ups like Otovo and Oda. Cardboard brings a fresh approach to addressing the significant challenges of the B2B SaaS boom at almost every company. We look forward to working with them as they scale across Europe,” says Preben Songe-Møller, Partner at Skyfall Ventures.
“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.
“Since day zero, the Cardboard team has consistently shipped at lightning speed – we are superusers and customers ourselves and just love the product!” states Henrik Hatlebrekke, Partner at Sondo.
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Read the orginal article: https://arcticstartup.com/cardboard-raises-2-1m/
