Mynt Buys CostPocket to Plug a Baltic Gap Nordic Rivals Left Open
Swedish fintech Mynt has acquired 100 percent of Estonian expense-management firm CostPocket, converting a two-year card partnership into full ownership and buying itself an established position in Finland and the Baltics that its larger Nordic competitors have yet to lock down. The deal, announced on 10 September 2026 across Stockholm, Tallinn and Helsinki, gives Mynt a receipt-capture product founded in 2016, a network of accounting and ERP integrations, and a regional customer base that would take years to build organically.
Financial terms were not disclosed. CostPocket will keep operating under its own brand, product, management and team from offices in Tallinn, Riga and Helsinki, with Mynt supplying its corporate cards, payment infrastructure and spend-management platform underneath.
What is Mynt actually buying?
Not a technology it lacks, but a market it does not yet own. Mynt, founded in 2018, already runs an AI-powered spend-management platform serving more than 30,000 businesses directly in Sweden, Norway, Finland and Denmark, and holds its own e-money institution licence from Sweden's financial regulator, Finansinspektionen. What it did not have was CostPocket's depth in local accounting workflows across Finland and the Baltics, a region where financial administration is tightly coupled to domestic bookkeeping systems and where a foreign entrant cannot simply port a Swedish product across the border.
CostPocket brings receipt digitisation built on optical character recognition and machine learning, expense and travel reporting, mileage and daily-allowance tools, and connections into the accounting software local firms already use. The company states its platform integrates with more than 40 accounting and ERP systems, though its own app-store listings cite over 30, a gap worth noting for anyone sizing the integration footprint precisely. It sells to businesses, accountants and software partners, and more than 200 accounting agencies rely on the product, according to the company.
Why turn a partnership into an acquisition?
The two firms were already commercially entangled. CostPocket had launched its own business card powered by Mynt's infrastructure, a project the Estonian company had described as an EU-cofunded effort to connect a payment card directly to its expense software. Full ownership removes the commercial friction of a partnership and lets Mynt consolidate the interchange revenue and spend data that flow through those cards, rather than sharing them across a partner relationship.
For Mynt, buying the customer relationships outright is faster and lower-risk than competing for them. Baltsar Sahlin, Mynt's chief executive and co-founder, framed the logic around shared product culture and a common ambition to strip out manual financial admin. CostPocket chief executive Toni Kivinen positioned the sale as access to Mynt's scaled payment infrastructure while the Estonian company keeps its brand and team, and described it as validation that a Baltic-built product can hold its place in the Nordic fintech landscape.
How does this fit Mynt's wider strategy?
It extends a pattern of using partnerships and infrastructure deals to reach customers Mynt does not serve directly. The company has built white-label spend-management infrastructure for Nordea, the largest Nordic bank, for an SME credit card due to launch across the region in 2026, and it has struck distribution partnerships with accounting-software providers including Visma and Fortnox. Visa has taken an investment and reseller stake in the business. Mynt closed a 22 million euro Series B in December 2024 at a reported valuation of roughly 175 million euro.
Owning CostPocket outright shifts Mynt from renting distribution to owning it in one corner of the map. In the Baltics and Finland, it now controls the front-end expense product, the accounting integrations and the underlying card and payment rails, a full-stack position it holds nowhere else outside its home markets.
Why This Matters to FinanceX Readers
For finance professionals and investors watching Nordic and Baltic fintech, this is a signal about how the spend-management race is being run. The market is crowded, with Denmark's Pleo and a field of card-led challengers competing for the same SMEs, and organic customer acquisition is slow and expensive. Mynt's move shows consolidation, not just fundraising, becoming the tool of choice for buying regional depth quickly.
The sharper question for investors is what Mynt does with the position. Owning the customer relationship, the integrations and the card rails in Finland and the Baltics gives it interchange revenue, spend data and a defensible local moat that a cross-border rival would struggle to dislodge. Whether that regional strength becomes a template Mynt repeats in other markets, or a one-off that stays contained to the Baltics, is the thing to watch as its Nordea launch and European expansion play out through 2026.
