Danish fintech Pleo raises $150 mln at valuation of $1.7 bln
06/07/2021 06:00
STOCKHOLM, July 6 (Reuters) - Danish fintech Pleo, which
offers expense management tool and smart company cards, on
Tuesday raised $150 million at a valuation of about $1.7 billion
from U.S. investment firms Bain Capital Ventures and Thrive
Capital.
Pleo currently has more than 17,000 customers across six
countries: Denmark, the United Kingdom, Ireland, Spain, Germany
and Sweden.
Founded in Copenhagen in 2015 by entrepreneurs Jeppe Rindom
and Niccolo Perra, Pleo had earlier raised funds from Stripes,
Kinnevik KINVb.ST , Creandum, Founders and Seedcamp.
"Pleo is well-positioned to become the dominant player in
small business spend management, an $80 billion plus opportunity
in Europe alone, and will only grow more essential to businesses
as the company expands into bill payments in the near future,"
said Merritt Hummer, a partner at Bain Capital Ventures.
(Reporting by Supantha Mukherjee, European Technology &
Telecoms Correspondent, based in Stockholm
Editing by Paul Simao)
((supantha.mukherjee@thomsonreuters.com; +46 70 721 1004;
Reuters Messaging:
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