Berlin-based corporate card platform Pliant has raised $40 million in a Series B equity round to fuel its expansion into the US.
The financing round is led by Illuminate Financial and Speedinvest, with participation from existing investors PayPal Ventures and Motive Ventures. In April last year, PayPal Ventures led an €18+ million Series A extension for Pliant as part of its plans to expand into the UK. With this new funding, Pliant’s total funds raised have reached $100 million.
This latest round aligns with the company’s impressive triple-digit revenue growth, now supporting 3,500 businesses across Europe. In June, Pliant secured a partnership with Commerzbank to deliver a fully digital credit card for business customers. Additionally, the company recently acquired Austrian insurtech hi.health, aiming to apply its payment process expertise across a wider range of industries.
Tom Filip Lesche, partner at Speedinvest, commented: “Pliant is not just building a 10x better credit card product; they’re creating the future infrastructure of corporate payments. We’ve been following Malte, Fabian, and their team for some time, and few can match their consistent performance against ambitious goals. We’re proud to co-lead this Series B round and partner with such an exceptional team on their journey to becoming a defining European fintech success story.”
Malte Rau, CEO and co-founder of Pliant, stated: “We are proud to have reached this milestone and grateful for the continued support of our investors. We have demonstrated that our platform delivers real value at scale, and with a strong foundation in Europe, we are ready to enter the US market.”