Soldo, a London, UK-based pay and spend automation platform provider, closed a $180m Series C funding.
The round was led by Temasek with participation from new investors Sunley House Capital, Advent International’s crossover fund, Citi Ventures and existing backers Accel, Battery Ventures, Dawn Capital, as well as Silicon Valley Bank for debt financing.
The company intends to use the funds to accelerate international expansion across Europe’s addressable market of $170bn and product development.
Led by Carlo Gualandri, CEO and Founder, and Mariano Dima, President, Soldo provides a pay and spend automation platform that gives businesses real-time visibility and cost control across all departments whether that is across travel and entertainment, online advertising, vendor management, software subscriptions, or anything else. Soldo integrates with accounting software including NetSuite, QuickBooks, Zucchetti, and Xero, and customers can connect with 50+ expense management platforms including Concur and Expensify via Mastercard Smart Data. In addition, the mobile app facilitates receipt and transaction capture right at the point of purchase.
The company currently serves more than 26,000 customers from small and mid-market to global enterprise in more than 30 countries. Customers include Mercedes Benz, GetYourGuide, Gymshark, Bauli, and Brooks Running.
Soldo has more than 200 employees across headquarters in London, and additional offices in Dublin, Milan, and Rome.