Danish B2B fintech Pleo launches Pocket

Friday 30 October 2020 13:42 CET | News

Fintech scale-up Pleo, which offers an expense management tool and smart credit cards, has launched Pocket: a new way to track money owed between a company and its employees.

Pocket is a new feature that will sit within the Pleo app, covering a range of the most common occasions when employees spend their own cash on work-related purchases. The update aims to help businesses manage out-of-pocket expenses, where a worker pays for something with their own money – often to avoid overcomplicated processes.

Also covered by the feature are mileage claims, with Pleo digitising the outdated methods of tracking petrol costs for employees who travel for work. Likewise, expenses paid with ATM cash and the use of company cards for personal purchases will now be trackable with Pocket.

Rolling out to the 10,000+ customers across Europe who currently use Pleo’s cards and app to manage their expenses, Pocket will ensure that now when they log in, both employee and employer will be able to get a full overview of who owes what. 

Pleo closed a USD 56 million Series B round in May 2019 led by US-based growth fund Stripes. Pleo cards are now used by over 10,000 customers across six European countries, with the company supported by strategic and technical partnerships with Mastercard, J.P. Morgan and Danske Bank.

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Keywords: Pleo, fintech, expense management, app, digitalisation, Pocket
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech