Berlin-based startup pliant has raised €18 million in a seed funding round. The fintech offers a corporate credit card solution, with a heavy focus on seamless integrations with existing company processes, particularly in the areas of accounting, travel expense, and invoice management. The funding is expected to further fuel pliant’s growth as it now aims to expand into new European markets. First announced in August of this year at €5.5 million, pliant now counts €12.5 million of additional capital in this extension to the round.
Pliant is playing in a highly competitive marketplace, with a seemingly unending number of corporate credit card providers all vying for the attention of prospective clients. However, the startup aims to differentiate itself through a number of painless and easy-to-implement software integrations, high limits, premium card perks, and attractive cashback services, and, “other best-in-class SaaS offerings.”
And it would appear that the company’s strategy is paying off. “Since August, we have increased our revenues fivefold. With the closing of the round, we can completely focus on expansion,” comments CPO and co-founder Fabian Terner. “For us, this commitment from our investors is proof that we are on the right track. We are entering a new phase of our growth plan with pliant.”
On the investment, Alstin Capital’s Noel Zeh commented, “pliant has presented impressive figures and massive growth in recent months. For this reason, we have once again significantly increased our commitment.”