Pleo, a Copenhagen, Denmark-based provider of a spend management platform, received €40M in debt financing facility from HSBC Innovation Banking UK.
The company intends to use the amount to expand credit offering into new countries and more currencies.
Founded in 2015 by Jeppe Rindom and Niccolo Perra, Pleo is a smart business spending solution for teams. Its intelligent company card gives companies autonomy across Europe. With features including subscription management, spend categorisation, invoice payments, email synching and direct reimbursement, it is used by over 30,000 companies. Pleo’s overdraft facilities are already in use across Sweden, Germany, the UK and Denmark, with plans to launch in the Netherlands, with more markets to follow over the coming months.
Today, the company has a team of over 900 people, with nine office locations (Amsterdam, Berlin, Chennai, Copenhagen, Lisbon, London, Madrid, Paris and Stockholm).
Pleo has also added Søren Westh Lonning as new CFO.
FinSMEs
02/05/2024