Danish fintech Pleo has raised $150 million in its Series C funding round.
The round was co-led by Bain Capital Ventures and Thrive Capital.
The company says the investment is Denmark’s biggest ever Series C round and brings its valuation to around $1.7 billion, making it Europe’s latest ‘unicorn’.
The round was co-led by US-based investment firms Bain Capital Ventures and Thrive Capital with participation from a number of previous investors, including Creandum, Kinnevik and Seedcamp.
Keri Gohman, partner at Bain Capital Ventures, will also join Pleo’s board of directors.
Founded in 2015, Pleo offers company cards and expense management tools for businesses across Europe.
The company secured $16 million in its Series A round in 2018 before raising $56 million in its Series B round a year later to fund its expansion into new European markets.
Pleo co-founder and CEO, Jeppe Rindom, says the company now boasts “17,000+ customers” in six countries.
The company says the new funds will be used to develop new features for the platform and to expand its staff and customer base.
Last month, the company appointed former Freshworks Europe president, Arun Mani, as its chief revenue officer (CRO) to help spearhead its future growth.
