CleverCards, the global digital payments platform, has today announced an €8m capital raise, including an investment from Pluxee, a global player in Employee Benefits and Engagement, and an additional investment from existing investors.
The investment stands out in the current capital markets impasse and brings CleverCards’ total funding to date to €28m.
Since its official market launch in 2023, the company has experienced substantial growth, onboarding over 10,000 businesses directly with 350,000 users in 92 countries. CleverCards has already grown into one of the world’s leading digital payments platforms, enabling Businesses and Public Sector organisations to configure digital Mastercard’s themselves and send them to anyone, anywhere, anytime to download instantly.
The Irish-headquartered company will use the capital raised to accelerate its expansion efforts and support the company’s ambitious growth plans to create the world’s most advanced digital payments platform.
As the company prepares further expansion, it has also strengthened its Board of Directors with five new non-executive members, with vast experience in successfully scaling payments technology on a global level.
Kealan Lennon, CEO and founder of CleverCards, commented:
“The growth we have experienced in the past two years has been formidable, and this investment round is a show of confidence in our trajectory. Pluxee’s investment is a significant endorsement of our vision and strategy as we push forward in our mission to transform digital payments globally. Their belief in our potential to innovate and connect the digital economy across borders is energising.”
CleverCards’ B2B customers and cardholder base are driving expansion, due to market needs left unfulfilled by traditional financial institutions. The partnership with Pluxee aims to not only help CleverCards’ scale its employee and social welfare benefits products but also positions the company for broader opportunities.
A team from Interpath Advisory led by Liam Booth and James Gibson, along with a team from Wallace Corporate Counsel led by Sean Wallace advised CleverCards on the fundraising.