Pliant, a startup based in Berlin, raises €8 million in capital for its Series A round, totaling €33 million. Molten Ventures has joined the ranks of SBI Investment, Alstin Capital, and Motive Ventures, three other current Series A investors, thanks to its investment.
Pliant announces that it got a €100 million loan facility with Varengold Bank in conjunction with the Series A extension.
In addition to offering corporate credit card services like cost tracking and automated payments, Pliant additionally offers a white label Cards-as-a-Service solution that lets companies launch their own credit card programmes.
In August of last year, Pliant acquired an Electronic Money Institution (EMI) licence in Finland. Since then, the company has broadened its services to 25 countries in the European Economic Area, offering 11 different currencies.
The firm claims that a large amount of the €100 million debt facility will be utilised to propel expansion into these thriving regions and lead the way into new nations where the Euro is not the official currency. Early in September 2023, Pliant purchased Finance Friday, a company in the Motlen Ventures portfolio, for an unknown sum.
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.”
Pliant’s goal is to enable businesses to expand by offering a clever payment solution that grows with their enterprise. Pliant provides businesses with the ability to track spending, issue virtual and physical credit cards, and easily integrate all of this data into their finance stack through its app- and API-based solutions.