Pleo Raises $ 200 Million in Series C Expansion Funding; Valued at $ 4.7 billion

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Pleo, a Copenhagen, Denmark-based fintech provider offering a simplified spend management tool and corporate chip cards, extended its Series C funding round by $ 200 million (USD), bringing the total raised to $ 350 million.

The extension, which took the valuation to $ 4.7 billion, was led by Coatue Management, followed by Alkeon Capital and existing investors, Bain Capital Ventures, Thrive Capital, Creandum, Kinnevik, Founders, Stripes and Seedcamp. .

The company intends to use the funds to further accelerate its growth plans, including deployment across Europe from 2022. After announcing imminent entry into Austria, Pleo plans to expand into fourteen EU territories, starting with Finland, the Netherlands, France and Portugal. .

Founded in Copenhagen in 2015 by fintech veterans Jeppe Rindom and Niccolo Perra, Pleo provides a business expense solution that offers smart business cards and automated expense reports to employees, allowing them to buy the things they need to work while giving finance teams control and visibility total on all company expenses.

Pleo captures receipts on the go, automatically categorizes expenses based on previous behavior, and eliminates the need for manual expense reports.

Today, more than 20,000 companies use the company’s services in six markets (UK, Denmark, Sweden, Germany, Ireland, Spain).

Today, the team is made up of 430 people working in six European offices (London, Stockholm, Berlin, Madrid, Lisbon and Copenhagen).

FinSME

12/09/2021

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