Zenegy scores million-investment from Danske Bank

Zenegy scores million-investment from Danske Bank



We've come a long way since Zenegy aired in the beginning of 2017. Many great milestones have been reached and as the latest we've entered into a partnership with Danske Bank who's secured Zenegy's presence on the pay-and HR market with a double-digit million-investment. This also means that we're now facing a great deal of amazing opportunities.

From the very beginning, we've experienced a substantial amount of interest from private equity funds which for many entrepreneurs is a situation you can only dream of. However, it never made sense for us to enter into such a partnership, because we simply weren't in a place where we could use such a capital injection in a reasonable way. From the beginning we've been well-funded and it has provided us with the necessary peace to work and allowing us to truly step on it in the development department. We've always had a strong focus on the product and we love technology and all the possibilities it provides to make innovative solutions that can help companies, accountants and bookkeepers to receive a better experience in connection with payroll and HR.

When Danske Bank started showing interest in Zenegy, we quickly realized which opportunities a collaboration with such a huge player could bring along. We already had plans to expand in the Nordic market and with a partner like Danske Bank, we realized we could do it with much greater trustworthiness, volume and faster – and thus also with better odds of actually succeeding.

With Danske Bank's investment, we've not only received a substantial capital injection, but we've also gained a completely new channel for distribution that can pass Zenegy along to a greater and broader customer segment. The partnership also allows us to develop completely new and unique technological solutions. With Danske Bank as co-owner and active partner, we will have even more focus on product development. We'll continue the development of our HR-platform and then we'll speed up a close integration with the Danske Bank platform in order for us to deliver solutions that streamlines the operation at Danske Bank's business clients among others.

A brand new chapter – Zenegy has come to stay

As a start-up, you often meet a certain scepticism when it comes down to whether you have what it takes to go from being a start-up to being an established company – which is completely understandable. We've, of course, never doubted the abilities of Zenegy.

Danske Bank's investment is a stamp of approval of Zenegy and it means that we can say for certain that we're an established player in the market of pay and HR. It also means that we'll be needing new talents to support the growth journey that we've begun. It is important to say though that the collaboration with Danske Bank won't have any effect on the speed of our development.

It's been an amazing journey to found Zenegy. I've gone from sitting alone in a small office to sit in a large office in Hørsholm with the best team I could think of. Of course there have been bumps along the road and we've also had to struggle to reach our position today. That's why it makes for an even greater feeling as the founder of a company to see how far we've come and I can only say that I am so proud of what our small team has been capable of achieving in this short amount of time.

At the same time, we're also so grateful for the trust that thousands of companies has shown towards us and our product, as well as all of the accountants and bookkeepers who've provided us with speaking time and dared to move their customers to Zenegy. Without this trust we'd never have reached the point where we are today.