Pliant, a Berlin-based Fintech Innovation startup, excels in crafting cutting-edge corporate credit cards. In a recent Series A extension, they secured €8M, totaling €33M in investment.
Molten Ventures has joined the ranks of previous Series A investors Motive Ventures, Alstin Capital, and SBI Investment with this investment.
Furthermore, Pliant has managed to obtain €100 million in debt refinancing to strengthen its position financially through 2024.
A year after obtaining €26 million in a Series A funding round headed by Japanese fintech investor SBI Investment, the announcement has been made.
Malte Rau, the CEO of Pliant, states:
“Looking back at 2023, we are very proud of what the team has accomplished. Despite the current market environment, we are still able to expand all over Europe and secure a significant Series A.”
Funding Leaders:
One of the busiest venture capital organizations in Europe, Molten Ventures develops and finances innovative, rapidly expanding technology startups.
Japan is home to the VC company SBI Investment. 190 of the 1,120 companies in which the VC has invested have successfully gone public through initial public offerings (IPOs) or been bought by other parties through mergers and acquisitions.
Pliant’s FinTech Innovation:
Pliant, established in 2020 by Malte Rau and Fabian Terner, provides contemporary business credit cards.
The company’s card management platform can integrate with existing accounting and travel expenditure management tools and processes. It provides customizable card limit settings and real-time reporting. The German corporation provides physical and virtual Visa credit cards.
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Customers can select between Blue (Visa Platinum Business) and Black (Visa Infinite Business credit cards) when it comes to physical cards. According to the startup, more than 40 million physical and online retailers across 200 countries accept Visa cards.
In August 2023, Pliant obtained an EMI license in Finland and subsequently expanded it effectively to 25 other countries within the European Economic Area (EEA). This indicates that Pliant can tailor a range of financial services and products to meet the specific needs of clients in these nations, in addition to issuing cards within these countries.
The business has also improved its multi-currency capabilities, enabling it to provide its services in eleven other currencies. Furthermore, Pliant will have the ability to grow into markets where the euro is not the dominant currency. Partner companies can start their credit card programs to better serve their clients and support their expansion into several new markets using Pliant’s Cards-as-a-Service solution.
