Nordic-based venture capital firm Creandum has led a €5.5m funding round for Danish company expenses management startup Pleo.
The round saw participation from early backers Seedcamp and Danish seed investor Founders.
Pleo's latest funding completes a DKK 20m capital injection it received in September 2016, when it attracted capital from family office Kirkbi – owned by heirs to the Lego fortune – as well as apparel group Bestseller founder Anders Holch Poulsen, and Danish charitable foundation Oticon Fonden.
Creandum supplied equity from its most recent vehicle, the €180m 2016-vintage Creandum Fund IV.
Headquartered in Copenhagen and London, Pleo offers a MasterCard and mobile app for company expenses.
The fintech startup provides a prepaid virtual or physical MasterCard that can be given to employees for company expenses. Pleo's accompanying app allows automatic retention of receipts, spending categorisation and expense management.
Creandum – Johan Brenner (general partner).
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