Corporate card firm Pliant snags $40 million in funding

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.”