Pliant, a Berlin, Germany-based provider of cards for businesses, raised $28m in Series A funding.
The round was led by SBI Investment with participation from existing investors Carsten Maschmeyer’s Alstin Capital, finleap founder Ramin Niroumand through Motive Ventures (the early stage venture arm of Motive Partners, formerly embedded/capital), and neosfer, the early-stage fund of Commerzbank, and new investors MS&AD Ventures.
The company intends to use the funds to expand operations and its business reach after entering seven additional European markets and a sixfold growth of its customer portfolio.
Founded 2020 in Berlin by Malte Rau and Fabian Terner, Pliant provides Visa credit cards to enable companies to take advantage of worldwide payment acceptance, benefits, and other perks that premium card holders enjoy. The B2B credit card platform enables companies to optimize their payment processes using physical and virtual credit cards that integrate into their existing financial processes and stack of software tools. Additionally, Pliant leverages its expertise in B2B credit cards by enabling other financial software companies that it partners with to embed its advanced B2B credit card proposition into their existing product offerings. The first two such partners that launched their respective card programs recently are Candis, an invoice management software company, and Circula, a travel expense and employee benefits software provider.
FinSMEs
20/02/2022