Nordic fintech startups Enfuce and Pleo collaborate to accelerate expansion into Europe
Finland’s biggest fintech startup Enfuce and Danish startup of the year Pleo are combining their expertise in secure payments to serve companies across Europe. Their collaboration is enabled by Enfuce’s strong expertise in cloud-based payments and their global platform, which allows different players in the payments ecosystem to easily expand their services into new countries.
“We made a huge investment last year in re-building our payment platform to scale globally. I’m happy that Pleo was one of the first customers joining us on the upgraded service. Pleo has chosen to work with just a limited number of global partners, so we are excited that they saw the possibility to expand their Pan-European business together with us,” Denise Johansson, Enfuce CEO and Co-Founder says.
Pleo currently serves over 5500 businesses across six countries, providing a business spending platform that allows companies to issue smart, commercial company cards and automate expense reporting. This new partnership is one step towards Pleo’s goal of servicing the entire purchase process for SMEs across Europe.
“The collaboration with our new partner Enfuce is enabling us to offer more cutting-edge features to our existing and new customers faster. But more importantly, we are rebuilding our entire payment infrastructure together, making sure Pleo cards work anywhere and anytime, as we rapidly scale across Europe,” Niccolo Perra, CTO & co-founder of Pleo says.
Enfuce’s API, real-time processes and strong compliance were essential in helping Pleo develop safe and reliable solutions focused on customer experience. Enfuce’s goal is to make customers feel secure in their services and help them reach compliance.
“At Enfuce, we are fully committed to compliance and security, so that our partners can feel safe and secure in their choice of letting us be their service provider. Our partners should also feel confident in us living up to their growth aspirations. We’re excited to continue our collaboration with Pleo and look forward to expanding our global reach together,” Johansson sums.
Enfuce and Pleo will continue to work closely together and reveal more details on the new payment solution in spring 2020.
Enfuce offers payment and open banking services to banks, fintechs, financial operators, and merchants. By combining industry expertise, collaborative partnerships and compliance, they are delivering long term and scalable solutions fast and secure. Established in 2016, Enfuce employs over 50 driven professionals in the Nordics and has over 8 million end-users in their platform.
Pleo is an out-of-the-box business spending solution that offers smart payment cards for employees, enabling them to buy the things they need for work, while giving companies full control and visibility of all company spending.
Companies can distribute Pleo Mastercard with flexible individual spending limits in just a couple of clicks. Connected to desktop and mobile apps, Pleo allows both employees and managers to track and manage all company expenses in real time.
Pleo catches receipts on the go, automatically categorizes expenses based on previous behaviour and eliminates the need to do manual expense reports. All captured data can be fed directly into the customer’s accounting system, significantly reducing the administrative complexities of the finance function.
Pleo was founded in Copenhagen in 2015 by fintech veterans Jeppe Rindom and Niccolo Perra, both early team members of the Danish startup success, Tradeshift, with years of experience building successful financial products. Pleo has 160 employees with offices in Berlin, Madrid, London, Stockholm and Copenhagen and serves more than 5,000 companies.