VC firms in $56m series-B for Pleo

Existing investors Kinnevik, Creandum and Founders have all taken part, bringing the total amount raised by the company to $79m.

The fresh capital will be used to roll out Pleo across Europe and triple its headcount from 120 to 400 by the end of 2020.

Previous funding
Creandum and Seedcamp led a €5.5m seed round for Pleo in February 2017.

Both investors returned a year later to take part in a $16m series-A led by Kinnevik.

Company
Dual-headquartered in Copenhagen and London, Pleo provides a prepaid virtual or physical Mastercard and mobile app for company expenses. Pleo's accompanying app allows automatic retention of receipts, spending categorisation and expense management. The company employs 120 people and was founded in 2015.

People
Pleo – Jeppe Rindom, Niccolo Perra (founders).

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• Topics
• Expansion
• Nordics
• Technology
• Denmark
• Venture
• Kinnevik
• Creandum