European FinTech Pliant Raises $40M Series B Funding to Accelerate U.S. Expansion
Pliant, a prominent European FinTech company specializing in B2B payment solutions, has successfully secured $40 million in its Series B funding round, signaling its strategic move to expand into the US market. This significant investment round was spearheaded by Illuminate Financial and Speedinvest, with notable participation from existing investors such as PayPal Ventures and Motive Ventures.
Funding Milestone and Expansion Plans
With this latest funding, Pliant has raised over $100 million in total, a substantial achievement since its inception in 2020. Headquartered in Berlin, the company is recognized for its innovative, modular, API-first platform that enables businesses to:
- Streamline spending
- Enhance cash flow
- Integrate payments into financial workflows
Target Industries
Pliant’s services cater particularly to industries with complex payment requirements, including:
- Travel
- Fleet management
- Financial software providers
Strategic Growth Initiatives
The newly acquired capital will primarily focus on establishing a robust presence in the US. Pliant plans to build a strong talent base, develop essential infrastructure, and forge valuable partnerships from the outset. This expansion aligns with the company’s vision of becoming a key player in the global B2B payment landscape.
Recent Acquisition
In addition to its expansion efforts, Pliant has recently acquired Austrian InsurTech firm hi.health. This strategic move aims to bolster Pliant’s expertise in the insurance sector, further enhancing its ability to drive innovation and unlock growth opportunities across diverse industries.
Expert Insights
Tom Filip Lesche, a partner at Speedinvest, expressed enthusiasm for Pliant’s vision, stating, “Pliant is not just building a 10x better credit card product – they’re creating the future infrastructure of corporate payments.” He emphasized the exceptional performance of Pliant’s leadership team, who have consistently exceeded ambitious goals.
Furthermore, Konstantin Koenig from Illuminate Financial highlighted the challenges in the B2B payment landscape. He noted that “B2B payments remain one of the most underserved and inefficient areas in global finance,” and praised Pliant’s platform for introducing much-needed automation and intelligence to corporate payments.
Conclusion
Pliant’s recent funding and strategic initiatives not only enhance its capabilities but also position it as a frontrunner in the FinTech industry, particularly in the rapidly evolving B2B payment sector. For more updates on Pliant and its journey, visit their official site or follow them on LinkedIn.
