Pleo, a Danish born provider of expense management tool and smart company cards, raised $150M in Series C funding.
The round, which brought the valuation of the company to approximately $1.7 billion, was co-led by Bain Capital Ventures and Thrive Capital with contributions from Creandum, Kinnevik, Founders, Stripes and Seedcamp. Keri Gohman, Partner at Bain Capital Ventures, will join Pleo’s board of directors, in conjunction with the funding.
The company intends to use the funds to expand its solution across Europe, growing its customer base, invest in its team, which currently stands at 330 people, while iterating its product offering.
Founded in Copenhagen in 2015 by fintech veterans Jeppe Rindom and Niccolo Perra, Pleo is a business spending solution that offers smart company cards and automated expense reports for employees, enabling them to buy the things they need for work while giving finance teams full control and visibility of all company spending. Pleo catches receipts on the go, automatically categorises expenses based on previous behaviour and eliminates the need to do manual expense reports.
Today, the company operates with five European office locations (London, Stockholm, Berlin, Madrid and Copenhagen) with over 17,000 customers across six markets (UK, Denmark, Sweden, German, Ireland, Spain).
FinSMEs
06/07/2021