Pleo announces $56m Series B funding round led by Stripes

– DENMARK, København / UK, London –  Pleo, today announced in a blog post that the company has raised $56 million Series B funding in a round led by Stripes.

Jeppe Rindom, Co-Founder & CEO wrote: “In less than a year, we are making another similar announcement. But this time, it’s much bigger. We’re excited to announce the largest Series B round in Denmark to date, led by Stripes. With $56m in fresh funding, we are going to transform how companies buy things for work.

Today, after just three years since we’ve founded Pleo, we’ve reached another important milestone in our company’s history – our $56 million Series B investment round, led by Stripes, a leading growth equity firm from New York.

Since announcing our $16m Series A round less than a year ago and expanding to new markets in the meanwhile (Sweden and Germany), our growth has been remarkable. The demand we’ve seen for Pleo and our new way of business spending has been immense across different countries, company sizes and industry verticals.

We’re very excited that Stripes and our existing investors – Kinnevik, Creandum, and Founders have recognized our hard work so far and, more importantly, the enormous potential that Pleo has. We would like to thank them for supporting our ambitious journey to transform business spending for all companies across Europe and later, the World.

We would also like to thank all of our early Pleo users, companies supporters, and evangelists. For all your trust, motivation, support, reviews and feedback along the way.

As we’ve mentioned at the start of this year, we believe workplaces, no matter big or small, deserve solutions that encourage and inspire culture based on trust and transparency, instead of overwhelming control and needless bureaucracy.

We can’t wait to introduce all the new features and improvements we are working on to get us closer to this vision.”

About Pleo

Pleo offers smart payment cards for employees enabling them to buy the things they need for work, all while keeping the companies in control of spending.

Pleo revolutionises business spending by reducing administrative complexity, eliminating expense reports and simplifying bookkeeping.

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