Pliant secures USD 40 million in Series B equity round

The Series B round brings Pliant’s total funding to over USD 100 million, with the company also receiving approximately USD 20 million in a Series A extension financing in April 2024. At that time, the company leveraged the capital to expand into the UK and other markets outside the EU. Now, after solidifying its presence in Europe, Pliant aims to further expand its reach and scale its footprint in the US market.

Pliant’s development strategy 

Led by Illuminate Financial and Speedinvest, the financing round also saw participation from existing investors, including PayPal Ventures and Motive Ventures. The capital is set to facilitate Pliant’s long-term growth and support its development strategy. The company focuses its efforts on optimising business payments through a payment platform that adapts to the needs and demands of the globally operating businesses across industries. Additionally, Pliant intends to create a clear strategy to apply its knowledge in payment processes to a broader range of industries, as, until now, it has focused more on sectors such as travel, cards-as-a-service, and banking.

This strategy also included the recent acquisition of hi.health, an Austrian insurtech startup, with Pliant seeking to scale its presence in the insurance market sector. The move supported the company’s plan to accelerate advancement through targeted acquisitions and benefit from additional growth opportunities.

Furthermore, to expand worldwide, Pliant intends to invest in the infrastructure and talent required to facilitate its progression, with its team projected to exceed 200 individuals in the upcoming period. At the same time, the company aims to expand its network of partners, already working on this by teaming up with companies like VVRB, among others. By joining forces with VVRB, Pliant planned to provide credit lines in multiple currencies across the EEA, including CHF, CZK, DKK, GBP, HUF, NOK, PLN, RON, SEK, and USD, while BGN and ISK were set to be available on request.