Pliant, a B2B payment solutions provider, has secured $40m in a Series B funding round, led by Illuminate Financial and Speedinvest.
Current investors including PayPal Ventures and Motive Ventures also contributed to the round, bringing Pliant’s total funding to over $100m.
Set up in 2020, Pliant reported consecutive years of “triple-digit revenue growth” and currently caters to 3,500 businesses across Europe.
The company’s platform is designed to streamline business payments for internationally operating companies across various sectors.
Pliant CEO and co-founder Malte Rau said: “We are proud to have reached this milestone and grateful for the continued support of our investors. We have proven that our platform delivers real value at scale. With a strong foundation in Europe, we are ready to bring our solution to the U.S. market.”
Recently, Pliant acquired Austrian insurtech hi.health, which allows the company to apply its payment solutions within the insurance industry.
The fresh infusion will be used to support Pliant’s expansion to the US market.
The company seeks to invest in additional talent and infrastructure and anticipates its team will soon exceed 200 employees.
In addition, Pliant revealed plans to extend its network of partners to reach more customers and to support a broader range of payment use cases.
This includes a partnership with Commerzbank, which has contributed to the company’s growth.
Pliant holds a licence as an e-money institution (EMI) and has the authority to issue Visa-powered credit cards in 11 currencies across more than 30 countries.
The company focuses on two primary customer segments – businesses looking to optimise payment processes through apps and APIs, and financial entities such as software companies, ERP providers, and banks.
“B2B payments firm Pliant raises $40m in Series B financing ” was originally created and published by Electronic Payments International, a GlobalData owned brand.
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