Copenhagen based fintech startup Pleo raised $150 million in a Series C funding round led by Bain Capital Ventures and Thrive Capital. The funding round also witnessed participation from existing investors Creandum, Kinnevik, Founders, Stripes and Seedcamp. The round valued Pleo at ~$1.7 billion making it the latest entrant in the fintech unicorn club and bringing the total amount of funding raised by the startup to over $228 million. The funding will be used to grow its customer base from its current 17,000 to one million by 2025.
Founded in 2015 by Jeppe Rindom and Niccolo Perra, Pleo offers smart payment cards for employees to buy work-related products while keeping the company in control of spending.