Moss raises €25 million to bring fintech innovation, pushes for international expansion
Technology-enabled expense and financial management solution startup Moss, has raised €25 million in a Series A. The round was led by Peter Thiel’s Valar Ventures, with existing investors Cherry Ventures and Global Founders Capital participating in the latest funding as well. The round brings the company’s total funding to over €55 million, bringing its current valuation to €225 million.
Smart corporate credit cards, digital invoice management, and automated accounting being on their list already, the FinTech allows companies to manage all of their spending easily and transparently. Founded in 2019 and launched in mid 2020, Moss has issued more than 8,500 credit cards and now counts over 100,000 transactions processed.
CEO and co-founder of Moss Ante Spittler explained: “We want to help companies transform finance processes in their organizations to get the most out of their potential. This vision drives us every day and motivates us to take Moss to the next level. Our growth trajectory since founding Moss has been remarkable – both from a team and a product perspective. Since the last financing round six months ago, not only has our number of customers quadrupled, but we have also been able to introduce remarkable product innovations such as a seamless accounting export utilizing the DATEV API and digital processes for approving and managing invoices. And our credit product offers a unique benefit in the European card and spend management space,”
Although, Moss is a combination of software and a business credit card, the software makes bookkeeping easier by automatically tracking expenses and invoices, and the Mastercard network cards offer a credit limit of up to €250,000 and a no-interest payback term of 30 days.
Moss will use this investment to further grow its team size as well as push for product innovation and international expansion that will follow in 2022.
“We are delighted to continue to support the passionate founding team of Moss in achieving their goals. With their extensive tech and finance expertise and their business background, they are ideally positioned to bring a new understanding of spend management to businesses.” said founding partner of Valar Ventures Andrew McCormack.
Source: Moss “$29 million investment for Moss: FinTech on course for international expansion”