Kinnevik invests in Pleo's USD 150 million financing round
Kinnevik AB (publ) ("Kinnevik") today announced that it has invested USD 22m in Pleo's USD 150m funding round, participating above its pro rata share. The funds raised will be used to support the company's growing 17,000+ customer base, and the development of new spend management features on its platform.
Andreas Bernström, Senior Investment Director at Kinnevik, commented: "Kinnevik partnered with Pleo back in 2018. Already in those very early days we saw immense potential in the business concept and Pleo's product execution, as well as in the founding team led by Jeppe Rindom and Niccolo Perra, both serial fintech entrepreneurs with great success and expertise behind them. We are proud to continue to support a company we believe is emerging as the category winner in its field, helping both growing and established businesses manage their corporate spending in a simplified and efficient way."