Circula

AirPlus International (Neu-Isenburg, Germany) - B2B corporate travel payments: central lodged cards, corporate credit cards and virtual cards with accounting and analysis for business travel programmes. Sold by Lufthansa Group to SEB Kort (SEB Group, Sweden) for approx. EUR 450m, closed 31 Jul 2024 - ownership flag (EU). EEA payment entity in Belgium (PI).

Billhop (Stockholm, Sweden) - B2B payments by card: companies pay any supplier invoice with a credit card even where the vendor does not accept cards, unlocking working capital and card float for procurement; EUR 10.5m Series A for European expansion. Payment institution (Swedish FSA).

Cardlay (Denmark) - spend-management software with an own partner-issued virtual card programme; an expense add-on for bank card programmes.

Coverflex (Braga/Lisbon, Portugal) - flexible compensation and employee-benefits platform: meal allowance, insurance, fringe benefits, budgets and perks in one app with a payment card; 13,000+ companies across four markets; EUR 15m Series A (2023). The Iberian counterpart to Epassi/Swile.

Epassi (Helsinki, Finland; founded 2007) - Nordic market leader in mobile payments for employee benefits: meals, transport, wellbeing, healthcare and culture paid via the Epassi app; 1.5m+ users and 35,000+ merchant sites across Finland and Sweden. Payment institution rail: Epassi Clearing Oy (FIN-FSA).

Eurowag (W.A.G. payment solutions, Prague, Czechia; LSE-listed 2021, ~EUR 200m raised) - fleet and mobility payments for road transport: fuel/energy cards at ~15,500 acceptance points in 30 European countries plus tolls in 23. E-money via W.A.G. Issuing Services (Czech National Bank). Register-sourced: Payment institution (PI), Czech National Bank, ref 05021910; passported to 24 EEA states.