Danish unicorn Pleo is on a hyper scaling journey

Following a capital injection of DKK 2.3 billion, Pleo is on the track for another year of incredible growth.?

Founded in 2015, Pleo is a fundamentally new way to manage business spending, using expense automation to transform how companies spend. Pleo takes the stress and friction out of expenses – empowering employees and managers at the same time.

Workers use their?smart company card?to buy what they need for work, and admins can see in real-time where company money is going.?

Since its conception, Pleo has experienced immeasurable growth within the fintech scene. In July last year, the company announced that it had raised USD 150M (approx DKK 900M) in its Series C round of funding, the largest round raised by any Danish-founded company at the time. This capital injection secured Pleo’s unicorn status, with a valuation of USD 1.7B, making it the 8th?Danish company to achieve this coveted rating.?

But this wasn’t the first record that Pleo broke here in Denmark. In fact, Pleo had previously raised a total?USD 228.8 million. ?A 56 million dollar Series B round, led by current investor Stripes, was the biggest Series B total in Danish history. It was?also the first pure fintech company to make it onto the list of unicorns, and the fastest, taking just over 6 years to achieve this status.?

As for now, Pleo just announced that it rounded out 500 employees, with an aim to more than double that number by the end of the year, as well as a goal to launch in 13 new European countries.?

- We are escalating really fast now. We have 150 employees who have started since the new year and expect to have rounded 1100 employees by the end of the year. That pace we will probably lift into 2023, where we will also open in a new continent, says Jeppe Rindom, co-founder and CEO of Pleo to B?rsen. ?

Pleo is a perfect example of how Danish fintech's are creating jobs and growth around Europe.?

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