Credit card fintech Pliant lands €18m Series A extension led by PayPal Ventures
Pliant, a B2B credit card fintech based in Berlin, Germany, has raised over €18 million in a Series A extension, bringing the round’s total sum to more than €50 million.
Pliant raises €18m Series A extension
The latest round of funding was led by PayPal Ventures, with additional participation from existing investors Alstin Capital, SBI Investment and Motive Ventures.
Pliant previously raised €28 million via its initial Series A funding round in February this year, and will now seek to expand its cards-as-a-service (CaaS) product to markets beyond the European Union, starting with the UK.
To support its planned expansion, the fintech has developed multi-currency capabilities and claims to now provide services in a total of 11 different currencies.
This development enables customers to be invoiced in the same currency used to complete the transaction, which Pliant says is “particularly useful for companies with significant transaction volumes in non-EUR currencies”.
Moreover, it asserts that the cash injection follows its “solid performance in 2023”, during which it doubled its annual revenues.
Elsewhere, Pliant has also successfully extended its Electronic Money Institution (EMI) licence to 25 countries across the European Economic Area (EEA), enabling its provision of financial services in the region to extend beyond solely card issuance.
Founded in 2020, Pliant’s platform allows businesses to issue both physical and virtual credit cards, monitor expenditures, and automate payment processes through its app and API-driven solutions.
