The Germany-based fintech also secured a $100m debt facility
Pliant, a corporate credit card provider, has raised $33m in a series A extension round, up from its original $25m. In addition, The Germany-based fintech secured a $100m in debt refinancing.
The new investment came from Molten Ventures, joining existing backers SBI, Alstin Capital, and Motive Ventures.
With its app and API-based solutions, Pliant gives companies the ability to issue physical and virtual cards, automate payments and track spending.
Pliant acquired the EMI license, which allows companies to issue electric money in the European Economic Area, in Finland in August. It has now passported the license to 25 countries and 11 currencies across the economic zone.
Founded in 2020, Pliant can now issue cards in these countries and provide additional financial products and services. This will allow customers to be billed in other currencies besides Euros, which is especially useful for companies that have significant transaction volumes in currencies like USD and want to be billed in the same currency as the transaction currency.
In addition, Pliant will be able to expand into markets that do not have the Euro as their national currency.
Malte Rau, chief executive officer of Pliant, said: “Looking back at 2023, we are very proud of what the team has achieved. Despite the current market environment, we are still able to expand all over Europe and secure a significant series A.”