Pleo Financial Services A/S Strengths, Domain Expertise, and Key Differentiators
Pleo provides intelligent credit cards designed to empower employees in making work-related purchases while ensuring the company's finance director maintains control over expenditures. The platform comprises "smart" company cards integrated with software and mobile applications, facilitating automatic matching of receipts and real-time tracking of corporate spending. The Pleo MasterCard can be loaded with funds and distributed to employees, whether in physical or virtual form. This card is seamlessly connected to Pleo's backend system and applications. Notable features of the software include the automatic categorization of expenses, the capture of receipts linked to each transaction, and the elimination of expense reports. Pleo streamlines bookkeeping tasks by seamlessly integrating with various accounting software providers.
Pleo Financial Services A/S Recent Developments
In November 2022, Pleo introduced two novel solutions aimed at assisting companies in saving both time and money: multi-entity management and cashback.
The capability of multi-entity management empowers finance teams to oversee, control, and administer multiple entities through a unified account. This not only streamlines the setup process, saving valuable time but also prevents costly errors. It optimizes various processes such as onboarding new team members, reviewing expenses, bookkeeping, and reconciliation, offering businesses a comprehensive view of cash flow when most crucial. Given that multiple entities often come with diverse financial structures, VAT requirements, and year-end calendars, the multi-entity management feature ensures seamless centralization. This centralized approach enables organizations to maintain better control over decisions that may impact numerous individuals across different countries.
Cashback represents the latest stride in Pleo's commitment to delivering insightful, pragmatic, and valuable guidance to businesses seeking efficiency and control in their operations. Through an annual subscription, Pleo customers can avail themselves of up to 1% cashback on all transactions made by their team using Pleo cards.
In April 2021, Pleo introduced Bills, providing a simple solution for consolidating, monitoring, and settling business-to-business (B2B) bill payments along with supplier terms of service. This innovative tool aims to enhance financial resilience and accountability for companies by digitizing and optimizing the workflow of business invoices and payments.
Enfuce, a Finnish fintech startup, and Pleo joined forces to leverage their expertise in secure payments for companies across Europe. This collaboration utilized Enfuce's proficiency in cloud-based payments and its expansive global platform, enabling various players in the payments ecosystem to effortlessly extend their services into new countries. For Pleo, this partnership marked a significant stride towards its objective of servicing the entire purchase process for SMEs throughout Europe. The collaboration with Enfuce empowered Pleo to swiftly provide enhanced features to both existing and new customers. Enfuce's API, real-time processes, and robust compliance played a crucial role in aiding Pleo's development of secure and dependable solutions with a focus on customer experience. Enfuce's overarching goal is to instill a sense of security in its services, assisting customers in achieving compliance.
Pleo Financial Services A/S Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Pleo Financial Services A/S applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Pleo Financial Services A/S and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Pleo customers.
Pleo Financial Services A/S Overview
Ravnsborg Tværgade 5C
Copenhagen, x, 2200, Denmark
45 7873-0915
https://www.pleo.io/
Ownership: - x
Number of Employees: 850
Functional Markets: ERP Financial,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction, Real Estate, Consumer Packaged Goods, Distribution, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Pleo Financial Services A/S Key Enterprise and Cloud Applications
Pleo
Pleo Financial Services A/S Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Pleo Financial Services A/S Revenue Breakdown By Type, $M:
Pleo Financial Services A/S Enterprise Applications Revenues By Functional Markets, $M:
Pleo Financial Services A/S Enterprise Applications Revenues By Verticals, $M:
Pleo Financial Services A/S Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Pleo Financial Services A/S Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Pleo Financial Services A/S Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Pleo Financial Services A/S Customers
No. of Pleo Financial Services A/S Customers: 30000
No. of Pleo Financial Services A/S Enterprise Applications Customers: 30000
No. of Pleo Financial Services A/S Cloud Customers: 30000
No. of Pleo Financial Services A/S Cloud Subscribers: x
Pleo boasts a customer base exceeding 30,000 across Europe, including notable clients such as Space10, Pearlfisher, Nodes, Actimo, Planday, European Energy, Boozt, Sandgrav Solutions, 6Point6, Houst, Syft, and numerous others.
Pleo Financial Services A/S Market Opportunities, M&A and Geo Expansions
November 2022 witnessed Pleo forming a strategic partnership with TravelPerk to streamline the travel expense experience for its users.
The recently unveiled API integration harmonizes TravelPerk's expansive global travel management platform with Pleo's business spend solution, delivering end-to-end efficiency. Business travelers now have the autonomy to book within budget, adhering to policies and approvals. The use of a Pleo card eliminates the need to pay out of pocket or submit expense claims. Subsequently, receipts seamlessly sync directly into the Pleo system, ready to be categorized and tagged.
October 2021 marked the introduction of Pleo's revised business model, featuring a no-fee service tailored for customers in the UK, Ireland, Sweden, and Denmark. The Free plan offers a curated selection of Pleo's services at no cost, accommodating up to five users per company, and is delivered through collaboration with J.P. Morgan, Mastercard, and payment processing service Enfuce.
In July 2021, Pleo successfully secured $150 million (USD) in its Series C funding round, marking the largest Series C raise in Danish history and one of the most substantial Series C rounds in European fintech. This significant investment bestowed upon Pleo a Unicorn valuation of approximately $1.7 billion. The funding round was jointly led by Bain Capital Ventures and Thrive Capital, with continued support from steadfast investors such as Creandum, Kinnevik, Founders, Stripes, and Seedcamp.
In May 2020, Pleo secured $56 million in a Series B funding round. The allocated funds are earmarked for extensive expansion, with the company aiming to increase its workforce from 120 to 400 employees by the end of 2020. Additionally, Pleo plans to expedite product development to comprehensively serve the purchase process for SMEs throughout Europe, encompassing the addition of features such as credit, invoices, mobile payments, a vendor marketplace, VAT reclaims, and more.
Stripes, the growth fund based in New York, is spearheading the funding round, with involvement from current investors Kinnevik, Creandum, and Founders.
Pleo Financial Services A/S Risks and Challenges
Venturing into new markets beyond the EMEA region presents a formidable sales expansion challenge.
Pleo Financial Services A/S Ecosystem, Partners, Resellers and SI
March 2023 saw Pleo collaborating with Skiller Whale, a strategic coaching company, to enhance the skill set of its engineering staff. The program's focal point revolves around the creation of top-notch API integrations. By emphasizing continuous learning with immediate application and experimentation, Skiller Whale coaches will be partnering with Pleo's engineering team to expedite the development of expertise and specialized knowledge.
In January 2020, Pleo underwent a strategic shift in its business model in collaboration with JPMorgan and Mastercard, transitioning from prepaid spending cards to company credit cards. Formerly providing spending cards coupled with intelligent expense reporting, this evolution allowed Pleo, in partnership with JPMorgan and Mastercard, to move beyond the initial product version of prepaid cards to a more scalable and widely accepted solution: corporate credit cards.
Pleo Financial Services A/S Cloud Infrastructure Insights
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- Pleo Financial Services A/S Public Cloud and Infrastructure (IaaS)
- Pleo Financial Services A/S Platform (PaaS)
- Pleo Financial Services A/S Application Delivery
- Pleo Financial Services A/S Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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