Pleo, a provider of a digital debit card for companies, has just received an investment amounting to DKK 20 million ($ 3 million). The investment has been provided by the startup studio Founders A/S as part of Pleo’s first funding round.
In addition to Founder, other prominent names such as Kirkbi A/S, Anders Holch, and Oticon Fonden have also provided capital for the company.
Addressing new challenges
Pleo is a payment service, which combines the special Pleo payment card with an app that automatically tracks and organizes expenses. Founders have had an eye on Pleo for quite a while as the product fits their increased focus on the future of work.
“It will all become more autonomous. A new and more independent generation is on its way to the job market. The work of today can just as well be done at a café as at the office,” says Simon Sylvest, partner & co-founder of Founders.
With their new focus, Founders aim to find and develop companies which are addressing the challenges of a changing work life. Pleo is a great example of a company which tries to decentralize the function of purchasing.
“Today, employees ach much more as consumers. What the purchasing department dealt with 15 years ago is now handled directly by the employees. They, for example, order their own plain tickets on Momondo. The purchasing function has become decentralized and it calls for a new way of thinking,” says Jeppe Rindom, CEI & Co-founder of Pleo.
The investment will initially be used to establish a foothold for Pleo on the Danish and the British market. Pleo already holds offices in these countries and they are currently offering a beta version to be used by selected companies. More than 650 companies have already signed up for the product once it is released.
For more information about this big investment go to Børsen.