Moss, a Berlin-based spend management platform, has reached a €500m ($573m) valuation after the close of its Series B round on €75m.
Tiger Global and A-Star joined the Series B round, which comes just six months after its former capital injection.
Moss closed its Series A on $29m in August 2021 at a valuation of $264m. The investment was supported by Peter Thiel’s VC Valar Ventures Cherry Ventures and Global Founders Capital.
Its growth plans include the launch in the UK, following a successful release in the Netherlands. Moss is also eyeing other markets to launch its services later this year.
Furthermore, the company is also looking to release new tools for spend controlling, liquidity planning and accounting automation.
The FinTech company launched in mid-2020 as a corporate credit card for startups and digital companies in Germany. Since then, it has entered into the SME market and released a series of new products.
Following the fundraise, customers will now have the choice of using Moss as a complete solution for their spend management or to build a customised modular solution based on their needs.
Moss lets clients issue virtual and physical credit cards, digitally enter and approve invoices, process and reimburse employee expenses, and manage liquidity. It claims its credit cards have high credit lines and payment terms of up to 60 days.
Since its launch, Moss has issued over 20,000 physical and virtual credit cards and processed more than 250,000 transactions.
Tiger Global partner John Curtius said, “Moss convinced us immediately with its forward-looking product. In particular, the modularity of the solution enables companies to set up their expense management individually and to massively streamline financial processes.
“Thanks to its unique technology, the potential for growth is great. We are very pleased to be able to support the team in continuing to grow in Germany as their core market and expanding into other markets.”
The company has raised a total of $149m in equity since it was founded.
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