Kinnevik leads $16m series-A for Pleo

The fresh capital will enable the company to undertake a recruitment drive and launch its service across Europe.

Existing investors Creandum, Founders Capital, Seedcamp and Vækstfonden also took part in the latest funding round.

Previous funding
Creandum led a €5.5m funding round for Pleo in February 2017, with early backers Seedcamp and Danish seed investor Founders also taking part. The investment completed 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's founder Anders Holch Poulsen, and Danish charitable foundation Oticon Fonden.

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.

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

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