Mooncard raises €20 million for its neo banking and payment solutions for SMBs
Paris-based fintech startup Mooncard has closed €20 million Series B funding round. Led by BlackFin Capital and Partech with Raise Ventures and Aglaé Ventures also joining. Mooncard is planning to use the capital to further accelerate its growth and expand both nationally and internationally.
Founded in March 2016 by Tristan Leteurtre, Damien Metzger, Christophe Crémer and Renaud Vaillant, Mooncard provides corporate payment cards that automates the management of expense claims and business expenses. Mooncard was created with the ambition to put the new payment technologies at the service of the day-to-day management of all companies to enable them to gain in simplicity, efficiency and therefore profitability.
“Since we started, we have focused on fighting mental load in the workplace. Executives and company directors have enough to worry about on a daily basis without letting their minds be paralysed by an administrative problem such as expense accounts. Our ambition: to rid all employees, accountants and managers, in the public and private sectors, in small, medium and large companies, of this load. As a result, our goal is to continue to expand in the French market, but now also internationally, and to offer new intelligent digital solutions. Software and applications released in the last few years have all attempted to digitize or reduce expense accounts management, but not to eliminate it. The best solution is to automate the entire process and physically eliminate the expense account. Mooncard is the only one to do this. The best expense account is a dead expense account, one which no longer exists,” explained Tristan Leteurtre, co-founder and CEO of Mooncard.
The startup states that expense accounts have an estimated daily impact on nearly 650,000 companies in France, and nearly 2.5 million employees regularly submit expense accounts for their company. They still have to go through the same procedures (advancing money, keeping paper receipts, entering data, re-entering, reprocessing, and checking several times before getting reimbursed), which has become one of the primary daily annoyances for companies.
The company will accelerate its large-scale development in several European countries in addition to continuing to develop its national footprint and by the end of 2022 will have 100 new talents to add to its roster.
Source: mooncardBlog “Mooncard raises 20 million euros to free all European employees and managers from their professional mental burden”