Pleo is a fintech start-up that provides small and medium businesses with expense management tools and smart payment cards for companies. It helps companies to track and manage employees’ money spending.
The recent round was led by Coatue Management. Alkeon Capital, Bain Capital Ventures, Thrive Capital, Creandum, Kinnevik, Founders, Stripes, and Seedcamp also took part in the round. The funds are going to be used for expansion in more than 12 European countries, as well as for improving the core product.
Pleo, Denmark-based, was launched in 2015 by Jeppe Rindom, Niccolo Perra. The Pleo’s team consists of more than 400 people. Among clients are 20 000 companies such as Paddle, Planday, IDC, Thread, etc. in Denmark, Germany, Sweden, Ireland, Spain, and the UK. The plan is to operate in Austria, Finland, Netherlands, France, and Portugal. “We already had very ambitious plans, to bring Pleo to all of Europe in the next one and a half years,” Jeppe Rindom said. Till 2025 the company plans to have 1 million users.