Cardboard funding news – Oslo-based Cardboard Raises €1.9Million in Seed Funding

It secures purchases without company cards, eliminates operational risks from personal payments, and centralizes important data management to reduce shadow IT.

A leadership team with engineering, product management, marketing, and sales skills supports Cardboard's audacious ambition. They've worked for Cisco, L'Oréal, Circle K Europe, and Otovo and Oda.

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The co-founding team includes CEO Stein Magnus Jodal, product-focused Andreas Røyrvik, growth-focused Vidhi Kumar, data science expert Jakob G. Martinussen, and chairman Lars Syse Christiansen.

Skyfall Ventures Partner Preben Songe-Møller stated, "We are excited to support Cardboard's exceptional team, who have proven success at scale-ups like Otovo and Oda. Cardboard takes a new approach to B2B SaaS boom difficulties at practically every organization. We look forward to working with them as they expand across Europe.

SaaS is expected to reach $374.50 billion by 2028, with Europe contributing $95 billion and Norway US$1.94 billion. It's comprehensive SaaS management solution helps firms maximize their software investments by reducing inefficiencies.

Peder Hjermann, Investment Manager at RunwayFBU said, “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,”

Henrik Hatlebrekke, Partner at Sondo said, “Since day zero, the Cardboard team has consistently shipped at lightning speed – we are superusers and customers ourselves and just love the product!”.

About Cardboard

Cardboard has struggled in the past to manage SaaS subscriptions; we think it doesn't have to be this difficult. For the end user, traditional solutions on the market were typically unsatisfactory and weighed down by hierarchical processes. This was the inspiration behind Cardboard. Their objective is to eliminate these hassles and make SaaS management easy, if not fun.