Berlin-based fintech company Pliant has raised an additional €33 million in its extended Series A funding round, bringing the total amount raised to €33 million. This marks the largest Series A funding round for a fintech company in Germany. The new investment comes from Molten Ventures and joins existing investors SBI Investment, Alstin Capital, and Motive Ventures. In addition to the funding, Pliant has also secured €100 million in debt refinancing to strengthen its financial position going into 2024.
In 2023, Pliant achieved several significant milestones. The company acquired an EMI (Electronic Money Institution) license in Finland and passported it to 25 countries in the European Economic Area (EEA). This allows Pliant to issue cards and provide financial products and services in these countries, catering to the unique needs of customers.
Pliant has also developed multi-currency capabilities, enabling it to offer services in 11 different currencies. This is particularly beneficial for companies with high transaction volumes in currencies such as USD, as they can now be billed in the same currency as the transaction. Additionally, Pliant can expand into markets that have a national currency other than the Euro.
The success of Pliant’s Cards-as-a-Service (CaaS) product is evident through its partnerships with Circula and Candis. This product allows partner businesses to launch their own credit card programs, facilitating expansion into new markets. With a strong product and regulatory development strategy, Pliant is on track for a promising 2024.
Pliant’s CEO, Malte Rau, expressed pride in the company’s achievements, stating, 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.
Founded in 2020, Pliant aims to revolutionize credit card services by providing companies with a flexible and scalable payment solution. Through its app and API-based solutions, Pliant allows companies to issue physical and virtual credit cards, automate payment processes, track spending, and integrate all data seamlessly into their finance stack.
With its extended Series A funding and debt refinancing, Pliant is well-positioned to further expand its reach and provide innovative financial solutions to businesses across Europe and beyond.
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