🇩🇰 Pleo: We’ve secured €40M in debt financing from HSBC Innovation Banking to level up our credit offering

We’re over the moon to share that we’ve secured a €40 million debt financing facility from HSBC Innovation Banking UK, the specialist financial partner for the innovation economy.

We pride ourselves on being Europe’s leading spend management solution, but helping businesses across growth stages and industries manage their spending doesn’t just happen with seamless card payments and receipt capture. We’re here for every stage of your business journey, and this recent deal marks yet another step in the right direction.

So, what does this deal mean for businesses around Europe?

If you didn’t know already, our Overdraft feature is already available across Sweden, Germany, the UK, and Denmark (and it’ll soon be in the hands of businesses in the Netherlands very soon). Not only does it give European companies comfortable flexibility when they need it the most, but it quite simply helps keep businesses’ cash flow flowing.

Pleo Overdraft is here to help you navigate gaps in cash flow and keep your business moving without the worry of missing crucial payments or facing late payment fees. And we know that this is on the mind’s of businesses since over the last six months, the average company has seen 6% of their total transactions fail due to insufficient funds. (Based on data from Pleo users).

A match made in (credit) heaven

We’re proud to work with leading industry giants, that all uphold the highest standards in security — and HSBC Innovation Banking is yet another example.

“This transaction demonstrates HSBC Innovation Banking’s capabilities to provide multi-currency, multi-jurisdictional facilities to support leading credit originators launching new and innovative products. We’re proud to be providing Pleo with this facility and look forward to supporting them to continue on their global growth trajectory,” says Conor Sheehy, Managing Director, Head of Warehouse Finance, HSBC Innovation Banking UK.

Looking to the future

It’s a thrilling time for us at Pleo as we continue to expand our offerings to become the go-to holistic spending solution for companies of all different shapes and sizes everywhere.

“Beyond this milestone partnership and imminent launch in the Netherlands, we are expecting to see exciting developments over the coming 12 months as we prepare to launch in even more markets,” Amit Kahana, VP of Credit and Treasury at Pleo added.

As we continue to look forward, we would like to take the opportunity to thank our customers, partners, and investors for their continued support. We couldn’t do it without you.

To experience the full benefits of Pleo Overdraft, activate it in just a few clicks in the Pleo app.

Originally published on 2 May by Pleo.

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