Not to be outdone by Paris-based Spendesk’s announcement this morning, across the channel, London’s pay and spend automation fintech Soldo has closed a $180 million Series C round. The startup provides businesses with real-time visibility and cost control of company expenditures. With the new funding, the company is expecting to accelerate international expansion, as well as product development. To date, the company has raised just over $263 million.
Founded in 2015, Soldo serves more than 26,000 customers including Mercedes Benz, GetYourGuide, Gymshark, Bauli, and Brooks Running in over 30 countries around the globe.
“Traditionally, corporate payments have had a handful of methods: bank transfers, corporate credit cards. Each of these methods bring a unique set of administrative hassles and security risks. And, of course, once the transactions are complete, there is a haze of receipts, expense reports, reimbursements, budgets, and analysis – none of which is connected. Soldo is the digital solution to this incredibly costly challenge,” explains CEO and founder Carlo Gualandri.
The round was led by industry heavyweight Temasek, and saw new investors Sunley House Capital, and Citi Ventures jump aboard. The round also saw continued backing from Accel, Battery Ventures, Dawn Capital, and Silicon Valley Bank for debt financing.