Valar Ventures leads €21m round for Moss

The round also saw participation from existing investors including Cherry Ventures and Global Founders Capital.

The company aims to use the fresh capital to continue the development of its software platform.

The latest round brings the company's valuation to approximately €100m, according to press reports. The business was valued at €10m pre-money in 2019, according to Unquote Data.

US-headquartered Valar held a final close for its latest fund in September 2018 on $133m. The fund focuses on technology-backed companies in Europe and the US. Its investments in Germany include banking startup N26.

Previous funding
Cherry and Global Founders backed a €10m funding round for Moss (then known as Nufin) in September 2019. At the time, Cherry Ventures was deploying equity via Cherry Ventures III, which held a final close in June 2019 on €175m. The fund makes investments of €300,000-5m, generally focusing on early-stage and series-A rounds.

Company
Founded in 2019 and based in Berlin, Moss is a fintech startup that provides software-backed physical and virtual credit cards for corporates. The company claims that its credit cards allow businesses to automate their accounting, expenses and receipts. Its clients include startups Zenjob, Demodesk and Bonify, according to its website. Moss employs fewer than 50 staff, according to LinkedIn.

People
Moss – Ante Spittler (co-founder, CEO).
Valar Ventures – James Fitzgerald, Andrew McCormack (founding partners).
Cherry Ventures – Filip Dames (co-founder).

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