After raising more than 72 million euros, the Danish fintech company Pleo arrives in Spain
After raising more than 72 million euros in financing, the Danish fintech company Pleo has landed in Spain, where it has closed agreements with eight companies with which it will collaborate to help its clients control corporate expenses. This was reported by Merca2 on June 18.
According to Merca2’s article, the company expects Spanish activity to account for 20% of the companies‘ total expense management business.
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On the other hand, they reported that the startup has developed a payment solution to facilitate the spending process, from the moment a purchase is made to its reporting and approval.
Pleo’s CEO in Spain, Aiyana Moorhead, said:
„We believe that Spain is a market with a lot of potential for growth, as expense management is one of the most resource-intensive and time-consuming tasks for Spanish companies today.
In addition, the article provided details of Fintech’s alliances: „In Spain it has signed agreements with Payfit, a system that simplifies payroll management; Nannyfy, Cobee and Playflow, initiatives related to facilitating work-life balance; as well as Bipi and eCooltra, to promote the use of mobility solutions adapted to new transport needs“.
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„As for food services, Pleo has partnered with EatTasty and Deliveroo for Business, to facilitate corporate meal delivery service, and with Toogoodtogo and Bulb (…) Through these partnerships, along with serving its customers in the domestic market, Pleo hopes to contribute to the development of a modern employment model tailored to the current characteristics of companies and their employees,“ they added later.
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Pleo was created in 2015 in Denmark by Niccolo Perra and Jeppe Rindom. It currently serves over 8,000 companies in six different markets (Spain, Denmark, UK, Sweden, Germany and Ireland) and has a team of 200 people.
Since it started, it has managed to raise funding of around 72 million euros. Its main investors include Creandum, Founders, Seedcamp, Kinnevik and Stripes.