Berlin-based startup Pliant has announced the addition of €8 million in funding to its Series A round, bringing the total to €33 million. Through the investment Molten Ventures now joins existing Series A investors SBI Investment, Alstin Capital, and Motive Ventures.
In tandem with the Series A extension, Pliant reports that it has secured a €100 million debt facility via Varengold Bank.
Offering company credit card services including expense management and the automation of payments, Pliant also offers a white label Cards-as-a-Service product that allows businesses to establish their own credit card initiatives.
Having secured an Electronic Money Institution (EMI) license in Finland in August of last year, Pliant has rolled out services to 25 countries across the European Economic Area, operating in 11 currencies.
According to the startup, a significant portion of the €100 million debt facility is earmarked to fuel growth in these active markets as well as spearhead entry into additional countries where the Euro is not the national currency.
By no means alone in its expense management offer, Pliant’s offer is particularly aimed at fast-growing startup firms that want to bypass traditional growth financing and says that its painless software integrations, high limits, card perks, and cashback services are helping the company stand apart in an increasingly crowded sector.
Pliant acquired Motlen Ventures portfolio company Finance Friday in early September 2023 for an undisclosed amount.
On the Series A round extension Pliant CEO Malte Rau shared:
“Looking back at 2023, we are very proud of what the team has achieved, and despite the current market environment, we are still able to expand all over Europe and secure a significant Series A.”
Lead image via Pliant.