8 years ago

Pleo Secures $3.25 Million to Simplify Company Expense Management

  • London and Copenhagen-based fintech startup Pleo, which offers a card and app to manage company expenses, has raised an additional $3.25 million in funding

  • The round was led by European VC firm Creandum, with participation from pre-seed and seed investor Seedcamp, and previous backer Founders

  • Pleo consists of the Pleo Mastercard, a prepaid card that can be charged up and handed out to employees

  • The card is integrated with Pleo's backend system and app, which allows for automatic categorization of spending and capture of receipts associated with each transaction

  • Each Pleo user can have different spending rights, with these permissions controlled and monitored via the central Pleo company dashboard

  • Transactions are updated in real time, and the prepaid element means no waiting to be reimbursed or for approval

  • The platform is also able to export data to a company's accounting system.

      • ProblemTechnology

      "Managing company expenses is a pain, involving too many manual processes and creating friction for businesses everywhere."

      Solution

      "Pleo provides a card and app that automates company expenses, making it easy for employees to buy things for work and seamlessly manage and control expenses. It's easy to use, provides an integrated solution, and offers features like automatic categorization of spending, real-time transaction updates, and data export to accounting systems."

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