Soldo secures $180m Series C funding round
London-based fintech Soldo has raised $180m in a Series C funding round led by Singapore investment firm Temasek.
Soldo, an automated expense management platform for businesses, claims the round is a European record for the spend management category.
The Series C included new investors Sunley House Capital, Advent International’s crossover fund and Citi Ventures.
Existing investors Accel, Battery Ventures and Dawn Capital also participated, with Silicon Valley Bank providing debt financing.
Soldo’s last funding round was a $61 million Series B in July 2019. It has now raised around $260 million in total.
The fintech says the funds will be used to accelerate international expansion and product development.
The company’s platform provides multi-user expense accounts linked with prepaid Mastercard company cards to help businesses manage their spend.
Founded in 2016, the firm claims to serve more than 26,000 customers in more than 30 countries, including Mercedes Benz, GetYourGuide and Gymshark.
Soldo president Mariano Dima says the firm aims to make businesses “more aware of all costs” to help them be able to “truly control their spending”.
The company will now look to focus on new markets including Benelux, France and Germany.