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