Pleo, a Danish fintech company that builds smart company cards to track spending and automatically fills in expenses, has pocketed a EUR500,000 seed investments after beating off competition from 3000 startups at the Pioneers Festival in Vienna.
The company, founded in 2015 by former staffers from Danish startup Tradeshift, was voted 'Pioneer of the Year' by a panel of expert judges after presenting its ideas in front of a 25000-strong audience at the annual science and technology festival.
Pleo receive up to €500,000 from Speedinvest, a trip to California to visit the Red Bull High Performance Center Experience and a private consulting workshop with Austrian state secretary Harald Mahrer.
Pleo offers on-demand MasterCard pre-paid virtual cards (for online purchases) and plastic cards (for in-store purchases), alongside a mobile and Web-based dashboard app for monitoring purchases and assigning spending limits, and full integration with popular accounting systems.
CEO and co-founder Jeppe Rindom says: “It’s a great feeling to have our idea validated by some of the smartest minds in Europe. Nobody likes expense reports so that's why we built a company card that works for everyone, from everyday employees to thrifty Financial Directors and frustrated accounts departments. We’re currently in private beta and are inviting companies across the UK and Denmark to join the list to be the first to trial our technology."