Fintech Pleo to work with J.P. Morgan, Mastercard to scale-up in Europe

Monday 3 February 2020 10:44 CET | News

Denmark-based fintech Pleo has announced that it has entered into a collaboration with J.P. Morgan and Mastercard products.

With this collaboration, the Danish fintech company will be able to provide its customers with new features. Also, it eyes to scale faster across Europe. J.P. Morgan is providing an API, which allows Pleo to manage its cash positions efficiently and process customer payments in real-time. Pleo is a business spending solution, which provides smart payment cards for employees letting them buy things that they need for work and giving companies complete control and visibility of all their spending.

Making the transition from prepaid cards to corporate credit cards is a part of its planned infrastructural change. The fintech company recently secured the e-money license in Denmark to serve credit to their major clients across Europe. With these changes, Pleo will be able to expand into new European territories faster. Of these, Spain and Ireland will be the first ones in 2020. The company also plans to expand into four new markets later in 2020.

In May 2019, Pleo raised USD 56 million Series B financing round led by Stripes, a US-based growth fund along with participation from existing investors including Kinnevik, Creandum and Founders.

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Keywords: J.P. Morgan, MasterCard, Pleo, Denmark, fintech, financial technology, Kinnevik, Creandum, Founders, Stripes, expense management, Expense Reporting, payments , e-money, e-money licence
Categories: Banking & Fintech
Countries: Europe
This article is part of category

Banking & Fintech