Pleo
Copenhagen spend management platform with company cards, reimbursements, invoices and accounting sync for more than 40,000 European businesses, and the first of the European spend companies to reach unicorn status.
| Founded | 2015, Copenhagen |
|---|---|
| Founders | Jeppe Rindom (CEO), Niccolo Perra |
| Ownership | Private; about US$434m raised from Bain Capital Ventures, Thrive, Creandum, Kinnevik and Stripes; valued at US$4.7bn in 2021, with Kinnevik’s end-2025 mark implying roughly US$1.5bn |
| Revenue | Revenue grew 56% in 2024; profitable in its core markets by 2025 |
| Customers | More than 40,000 businesses across 16 European countries |
| What it does | Physical and virtual cards, expense and mileage claims, invoice payments, budgets, and exports to Xero, QuickBooks, Sage, DATEV and Business Central |
| Recent moves | Invoices and accounts payable added to the card core; AI receipt matching; focus on profitability after the 2022 reset |
| Pricing | UK: Start GBP 8 per user a month (billed monthly); Build GBP 14 and Optimise GBP 18 per user a month (billed yearly, three-user minimum) |
| Markets | 16 European countries |
| Peers | Payhawk, Moss, Spendesk, Soldo, Ramp |
Funding
- Announced rounds
- US$350m in two rounds
- Latest round
- Series C extension, US$200m, December 2021, led by Coatue Management
- Valuation
- Valued at US$4.7bn in December 2021, at its Series C extension
What was Pleo's last announced valuation?+
Pleo was valued at US$4.7bn in December 2021, at its Series C extension, up from US$1.7bn at its Series C in July 2021.
Why it matters
Pleo has the largest customer base of any European spend platform at 40,000 businesses and was the category’s first unicorn, though its private mark has fallen a long way from the 2021 peak. It is the incumbent Moss and Payhawk are now overtaking on funding momentum.
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