Fintech startup Moss raises another €75 million
Fintech startup Moss has just closed its Series B funding round of €75 million and has now hit a valuation of over €500 million, putting it on the fast track to achieving unicorn status less than two and half years since it was founded. Tiger Global Management led this new funding round with participation from A-Star – a mere six months after the startup banked €25 million from Peter Thiel’s VC firm Valar Ventures, with participation from Cherry Ventures and Global Founders Capital.
Founded in 2019 by Ante Spittler, Anton Rummel, Ferdinand Meyer and Stephan Haslebacher, the fintech platform is on a mission to offer corporate credit card for startups and digital companies in Germany. After having entered the SME market and expanding its product portfolio significantly, the company aims to offer customers the choice of using the platform as a complete solution for their spend management, or to build a customized modular solution based on their needs. Using the platform, companies will be able to flexibly issue virtual and physical credit cards, digitally enter and approve their incoming invoices, easily process and reimburse employee out-of-pocket expenses such as travel costs and reliably manage their liquidity.
Since its inception, Moss has issued more than 20,000 physical and virtual credit cards and processed over 250,000 transactions. Additionally, the company has grown tremendously. Since the former financing round in August last year, the team has doubled and the number of customers quadrupled.
The fresh funding will facilitate the startup’s plans to enter the UK and other European markets, enhance the product and grow the team. Having grown to 25 members in less than three months, the startup has already expanded in the Netherlands with clients such as Ticketswap, Naduvi and O my bag.
CEO and Co-Founder, Ante Spittler, said: “There is a strong demand in the market to further digitize and automate financial processes and payments. With our solution, we want to help companies realize their full potential. This vision drives us and motivates us to constantly take Moss a step further.”