Bain Capital, Thrive lead €126m round for Pleo

Existing shareholders Creandum, Kinnevik, Founders Fund, Stripes and Seedcamp also took part in the round, which, according to Borsen, values the company at DKK 10.6bn (€1.4bn).

The company will use the proceeds to expand its product offering, team and to attract larger customers. The company was founded six years ago and has 17,000 customers. It has since 2015 raised nearly €200m over three funding rounds. 

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.

In May 2019, Stripes led a $56m series-B for Pleo with participation from a consortium of Nordic VC funds. Existing investors Kinnevik, Creandum and Founders all took part in the round. 

Company
Founded in 2015 and 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 330 people across Copenhagen, London, Stockholm, Berlin, and Madrid. 

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

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• Topics
• Expansion
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• Bain Capital
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