French expense management company, Mooncard, has raised €37 million in a Series C funding round led by Orange Ventures and Portage. The funding will be used to develop new solutions and expand the company’s services to six additional European markets.
Facts
- Mooncard has raised €37 million in a Series C funding round led by Orange Ventures and Portage.
- Existing investors Aglaé Ventures, Blackfin Capital Partners, Partech Partners and RAISE Ventures also participated in the round.
- Mooncard offers a cloud-based SaaS solution that automates corporate spend and expense report activities. It provides Visa-powered spending cards with controls, spend management, approval tools, and accounting functionalities.
- More than 6,000 companies currently use Mooncard’s services, which allow them to open an account in five minutes and have a card available in 24 hours.
- The funding will be used to develop new solutions to meet evolving accounting requirements and expand Mooncard’s services to six additional European markets: Germany, Austria, Belgium, Spain, Italy, and the Netherlands.
- Mooncard previously raised €20 million in a Series B funding round in September 2021.
- “Thanks to this new round of financing, we will be able to build on the functionalities of our technology to meet the evolving needs of finance departments of all sizes of organisation, in the public and private sectors, in France and internationally,” says Pierre-Yves Roizot, CEO of Mooncard.
