Pliant, a B2B credit card platform, has secured over €18 million in Series A extension financing, spearheaded by PayPal Ventures, with participation from existing investors SBI Investment, Motive Ventures, and Alstin Capital.
This funding, totaling more than €50 million, reflects Pliant’s robust performance in 2023, where it doubled its annual revenues, and its continued momentum in 2024.
The company’s successful extension of its Electronic Money Institution (EMI) license to 25 countries within the European Economic Area (EEA) enables Pliant not only to issue cards but also to offer tailored financial products and services to meet regional needs.
Malte Rau, CEO of Pliant, expresses excitement about PayPal Ventures’ partnership and outlines plans for market expansion, starting with the UK.
Pliant’s cards-as-a-service (CaaS) product empowers partner businesses to launch their own credit card programs, diversifying revenue streams and enhancing customer retention. The product’s success with early partnerships, including tech companies like Candis and mobilexpense, underscores its market viability.
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Ashish Aggarwal, Partner at PayPal Ventures, praises Pliant’s innovative credit card-as-a-service platform, facilitating seamless integration via APIs or embedded user interfaces. PayPal Ventures is confident in Pliant’s growth trajectory and is proud to support the company.
Pliant’s expansion beyond the EU, beginning with the UK market, is facilitated by its development of multi-currency capabilities. With services now available in 11 currencies, Pliant addresses the needs of businesses with significant transaction volumes in non-EUR currencies, offering billing in the currency of the transaction.
Overall, Pliant’s Series A extension financing and expansion strategy highlight its commitment to innovation and market leadership in B2B payments, positioning the company for sustained growth and success on a global scale.
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