Pleo
Pleo's platform gives employees company-branded cards and lets finance teams track and control spend in real time. It also covers invoices, reimbursements, credit and treasury products. It says it serves 40,000+ businesses across 16 European countries. It earns money by selling software subscriptions to businesses, and it also offers a free tier. It has raised over $430M in total. In 2021 it raised $150M at a $1.7B valuation, then another $200M at $4.7B, and took a $43M HSBC Innovation Banking debt facility in 2024. Investor Kinnevik later marked its stake down to an implied valuation of about $1.62B. The company cut about 100 jobs in late 2025 and about 50 more in June 2026. It announced AI agents for spend policy, AP, treasury and accounting, with beta testing planned for July 2026.