Finance

Fintech start-up Pleo valued at $1.7 billion in new funding round

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The Pleo app pictured on a smartphone next to one of the fintech firm’s corporate cards.

Pleo

LONDON — There’s a new fintech unicorn in town.

Danish start-up Pleo, which sells corporate expense management software and linked “smart” payment cards, has boosted its valuation to $1.7 billion in a $150 million equity financing round.

The investment, led by Bain Capital Ventures and Thrive Capital, makes Pleo the latest privately-held tech company in Europe to surpass the coveted $1 billion “unicorn” valuation.

“The whole digitization and automation of finance processes has been going on for a while,” Jeppe Rindom, CEO and co-founder of Pleo, told CNBC in an exclusive interview.

Pleo makes about…



Source cnbc.com

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