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Corporate card firm Pliant snags $40 million in funding

Berlin-based corporate card platform Pliant has raised a $40 million Series B equity round to fuekl its expansion to the US.

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Corporate card firm Pliant snags $40 million in funding

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The financing round is led by Illuminate Financial and Speedinvest, with existing investors including PayPal Ventures and Motive Ventures participating.

PayPal Ventures in April last year led an €18+ million Serie A extension for Pliant as part of plans to expand into the UK. The new financing brings total funds raised to $100 million.

The latest round comes amid triple-digit revenue growth for the firm, which now supports 3500 businesses across Europe. In June last year it secured a deal with Commerzbank for the delivery of a fully digital credit card for business customers.

It also recently acquired Austrian Insurtech hi.health as part of a strategy to apply its expertise in payment processes to a broader range of industries.

Tom Filip Lesche, partner at Speedinvest, comments: “Pliant is not just building a 10x better credit card product - they’re building the future infrastructure of corporate payments. We’ve been following Malte, Fabian, and their team for some time and I can’t think of another team that has consistently outperformed their ambitious plans year after year. We’re now proud to co-lead this Series B and partner with such an exceptional group on their journey to become a defining European fintech success story.”

Malte Rau, CEO and co-founder of Pliant, says: “We are proud to have reached this milestone and grateful for the continued support of our investors. We have proven that our platform delivers real value at scale. With a strong foundation in Europe, we are ready to bring our solution to the US market.”

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