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Payex

“Can a 50-year-old Nordic invoicing specialist, now inside Swedbank, become the single embedded financing/AR partner for large enterprises across the Nordics?”

Founded1972
HQVisby / Stockholm, Sweden
Latest roundAcquired by Swedbank (2017)
IndustryFintech / SMB banking
The story

PayEx started in 1972 on Gotland as a Nordic invoicing and financing specialist and grew into the region's leading factoring, sales-financing and collections provider. Swedbank acquired the company in 2017, folding it into the group so that Swedbank Pay (the acquiring/e-commerce brand) now runs as a business area inside PayEx Sverige AB, while PayEx itself continues operating as a regulated credit market company focused on invoicing, factoring, sales financing (including its own BNPL and installment products) and debt collection for large Nordic corporates.

Last 12 months
2024-02
2023-09
Product timeline
1972
Founded on Gotland, Sweden, providing invoicing and financing services· banking
2017
Acquired by Swedbank and integrated into Swedbank Group; Swedbank Pay operates as a business area within PayEx· acquisition
2023
Renewed partnership with Coop Sverige as card issuer for Coop Matkonto (chip & contactless card account)· card
2024
Partnership with Asteria to embed AI-driven invoice/factoring integrations across ERP systems for SMBs· lending
Regulated entities
1
regulatory licence held by Payex
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
7 layers disclosed in Payex’s embedded-finance stack
Payments / PSP
Swedbank Pay (in-house)
Banking / BaaS
in the full report
Card issuing
in the full report
Card network
in the full report
Lending
in the full report
Sponsor bank
in the full report
Accounts Receivable
in the full report
Accounting gap: minor
12 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.