Berlin-based fintech startup Pliant, focused on B2B payment solutions, has raised $40 million in a Series B equity round, bringing its total funding to over $100 million to expand its operations to the US. The round was led by Illuminate Financial and Speedinvest.
- Established in 2020 by Malte Rau and Fabian Terner, Pliant develops a B2B payment platform designed to help businesses streamline their payment processes.
- The platform offers flexible credit lines and seamlessly integrates with existing financial systems to simplify payments and improve cash flow management.
- Pliant serves industries such as travel, fleet management, and banking, providing solutions for businesses with complex payment needs.
- Moreover, it also collaborates with financial software companies, ERP providers, and banks, offering embedded finance and white-label solutions to enhance their credit card offerings.
- Pliant operates globally, issuing Visa-powered credit cards in multiple currencies and countries. The platform currently supports over 3,500 businesses and over 20 partners worldwide.
- Recently, the firm acquired the Austrian InsurTech company hi.health, which will help Pliant apply its payment expertise to the insurance sector, revolutionizing reimbursement processes and enhancing the user experience.
Details of the deal
- The Series B round was led by Illuminate Financial, a London-based venture capital firm that supports founders solving real problems for financial institutions, and Speedinvest, a Vienna-based venture capital firm managing over €1 billion in assets.
"We’ve been following Malte, Fabian, and their team for some time and I can't think of another team that has consistently outperformed their ambitious plans year after year. We’re now proud to co-lead this Series B and partner with such an exceptional group on their journey to become a defining European fintech success story," Partner at Speedinvest, Tom Filip Lesche, commented.
- The investment also saw participation from existing investors, including PayPal Ventures and New York-based VC Motive Ventures.
- The fresh capital will enable Pliant to expand into the U.S. and scale its operations globally, invest in talent and infrastructure, strengthen partnerships, and further innovate its payment platform.
“We are proud to have reached this milestone and grateful for the continued support of our investors. We have proven that our platform delivers real value at scale. With a strong foundation in Europe, we are ready to bring our solution to the U.S. market," claims Malte Rau, CEO and co-founder of Pliant.
