Pleo, a Copenhagen, Denmark-based fintech startup, received €500k in seed funding as the winner of the startup competition at Vienna’s Pioneers Festival 2016.
Austrial vc firm Speedinvest will make the investment, whose proceeds will be used to continue to expand operations.
Founded in 2015 and led by Jeppe Rindom, Niccolo Perra (ex-employees at Tradeshift), Pleo is developing a new type of spending technology which is offered to employees in companies. The company’s instant and on-demand Prepaid MasterCard® virtual cards allow users to make online purchases whole physical cards allow them to acquire in-store. Pleo cards come with a mobile and web app, where all company expenses can be followed and users can be managed.
Currently in private beta, the company also has offices in London.
Karsten Mikaelsen and Alen Cvisic are also part of the team.