Pleo is a fintech company that offers smart payment cards for employees for them to buy things they need for work, while keeping the companies in control of spending.
Pleo is the spending solution for forward-thinking teams everywhere.
Pleo was founded in Mar 2015 by Jeppe Rindom and Niccolo Perra. The company is headquartered in Copenhagen, Denmark, with offices in Sweden, Germany, Spain, Ireland and the U.K.
Pleo decentralises company spending, eliminates expense reports and reimbursements and simplifies bookkeeping. It offers smart company cards that enable employees to buy the things they need for work, all while keeping a company's finance director in control of spending.
Pleo starts with physical and virtual payment cards that are issued by Pleo (in partnership with MasterCard) to buy goods and services, which in turn are automatically itemized internal accounting systems, with the ability to work with e-receipts, but also let people use their phones to snap pictures of receipts when they are only on paper, if required.
Pleo currently serves around 20,000 small and medium businesses, with companies at the medium end of that numbering around 1,000 employees. The company is currently averaging 1,000 new customers per month.
Pleo is backed by Bain Capital Ventures, Coatue Management, Thrive Capital, Alkeon Capital, Creandum, Kinnevik, Stripes, Seedcamp, and others. The company raised $200M in Series D round on Dec 09, 2021. This brings Pleo's total funding to $428.8M to date. The latest round nearly tripled the company's valuation to $4.7B, from their previous $1.7B gained after Series C in Jul 2021.