Pliant raises $28m in Series A funding
German B2B credit card fintech Pliant has secured $28 million in a Series A funding round led by Japanese investor SBI Investment.
Existing investors Alstin Capital, Motive Ventures, and Neosfer (the early-stage fund of Commerzbank) and new investor MS&AD Ventures also took part in the round.
Founded in 2020 and based in Berlin, Pliant’s platform offers physical and virtual Visa credit cards for businesses, enabling them to take advantage of worldwide payment acceptance.
It also offers financial software companies the option to embed its card platform into their existing product offerings. Among the first firms to utilise this capability are Candis, an invoice management software company, and Circula, a travel expense and employee benefits software provider.
With the fresh funds, Pliant plans to build out the technological capabilities of its platform and enter additional global markets. In 2022, the company expanded into seven European markets and claims its customer portfolio grew six-fold.
Pliant previously raised $20 million over its pre-seed and seed rounds in 2021. Its Series A, which Pliant claims is the largest fintech funding in Germany so far in 2023, brings its total raise to $48 million.