Pleo receives €40M debt financing from HSBC Innovation Banking

May 02, 2024•about 1 year ago

Amount Raised

€40 Million

Copenhagen

Investors

Hsbc Innovation Banking Uk

Description

Danish fintech unicorn Pleo has secured a €40 million debt financing facility from HSBC Innovation Banking UK to boost its credibility in the market, offer higher credit limits to more customers, and unlock new customers in new markets and currencies.

Company Information

Company

Pleo

Location

Copenhagen, Capital Region Of Denmark, Denmark

About

The round, which sets a record for being the largest Series C for a Danish startup, values Pleo at $1.7 billion, the startup has confirmed. There are around 17,000 small and medium businesses now using Pleo, with companies at the medium end of that numbering around 1,000 employees. Pleo has around 330 employees today spread across London, Stockholm, Berlin and Madrid, as well as in Copenhagen, and it will be using some of the investment to grow that team and its reach. Pleo starts with physical and virtual payment cards that are issued by Pleo (in partnership with MasterCard) to buy goods and services, which in turn are automatically itemized according to a company’s internal accounting systems, with the ability to work with e-receipts, but also let people use their phones to snap pictures of receipts when they are only on paper, if required.

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