France-based Mooncard, which automates corporate spend management, has raised €37m in a fresh funding round.
The investment was supplied by Orange Ventures, Portage and existing Mooncard backers Aglaé Ventures, Blackfin Capital Partners, Partech Partners, and RAISE Ventures.
Growth plans of Mooncard include the development and adaptation of its services to local specificities in Germany, Austria, Belgium, Spain, Italy and the Netherlands.
Mooncard automates corporate spend and expense reporting. Its Visa payment card can be configured for each employee or user profile, with the ability to establish daily spend limits and activate spend categories, such as restaurants, service stations and taxis. Companies can even deactivate certain features for specific employees, including cash withdrawals, foreign purchases, online spend and more.
In the event of an exceptional request, a manager or administrator can receive an SMS so they can react in real-time. All transactions are stored in a cloud server and can be consulted in real time.
Mooncard supports over 6,000 companies, including Air France, Cora, Cityscoot, Mirakl and many others. It also has 400 customers outside of France and its solution is leveraged by 500 public institutions.
The FinTech company also claims that payment volumes through the solution have doubled every year since it was founded in 2016.
Mooncard CEO Pierre-Yves Roizot said, “Mooncard is recognised as a productivity tool for companies, enabling them to manage costs as accurately as possible and optimise employee efficiency. Thanks to the strength of our business model, the loyalty and satisfaction of our customers and the controlled management of our growth, we have convinced new investors to join us, while maintaining the confidence of our existing investors.
“Thanks to this new round of financing, we will be able to build on the functionalities of our technology to meet the evolving needs of finance departments of all sizes of organisation, in the public and private sectors, in France and internationally.”
Mooncard previously raised €20m in a funding round back in 2021.
Another French FinTech company to recently raise capital was Aria. The embedded invoice financing platform collected €50m in a debt fundraising round from M&G Investments.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
