Pliant, a Berlin-based B2B credit card fintech, has secured over €18 million in a Series A extension, pushing the total funding for this round beyond €50 million.
PayPal Ventures led the latest investment round, with participation from existing investors Alstin Capital, SBI Investment, and Motive Ventures.
Earlier this year, Pliant raised €28 million through its initial Series A funding round. With this new injection of capital, the company is set to expand its cards-as-a-service (CaaS) product into markets outside the European Union, with a focus on the UK.
To facilitate its expansion plans, Pliant has developed multi-currency capabilities, allowing it to offer services in 11 different currencies. This enhancement enables customers to receive invoices in the same currency used for the transaction, a feature particularly beneficial for businesses dealing with significant volumes in non-EUR currencies.
Pliant attributes this funding success to its strong performance in 2023, where it doubled its annual revenues.
Additionally, the fintech has broadened its reach by extending its Electronic Money Institution (EMI) license to cover 25 countries across the European Economic Area (EEA). This expansion allows Pliant to offer financial services beyond card issuance in the region.
Source: fintechfutures.com
