Danish Fintech Firm Pleo Raises $150 Million

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Pleo, a Denmark-based financial technology firm, recently announced that the company has raised $150 million in a Series C funding round. The latest investment round was co-led by Bain Capital Ventures and Thrive Capital.

In the recent announcement, Pleo mentioned that it has received a valuation of $1.7 billion. The company’s existing investors including Creandum, Kinnevik, Founders, Stripes and Seedcamp joined the latest financing.

Launched in 2015, Pleo has opened offices across five different locations in Europe. The fintech firm provides smart company cards to businesses. Pleo has launched several features in recent years, including Reimbursements and Bills. The recent investment is the largest Series C funding received by a Danish-headquartered company.

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Pleo is planning to use the latest funds to expand its product offering. The fintech company aims to make its existing features stronger.

Commenting on the Series C funding round, Keri Gohman, Partner at Bain Capital Venture, said: “The future of work empowers employees with the tools they need to be effective, productive and successful. Pleo understands this critical shift for modern companies toward employee centricity—providing workers with a fun-to-use spend management app that automatically tracks their corporate spending and generates expense reports, paired with the powerful tools businesses need to create full visibility and management of every penny spent.”

Growth

Founded in Denmark, Pleo received $5.5 million worth of seed investment in 2016. The fintech company announced its launch in the UK…

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