Pliant gets $6.5 million seed funding from Alstin and other investors
Shortly after the market launch of Pliant, venture capitalists Alstin, Main Incubator, Saber as well as Seed+Speed invest 6.5 million dollars.
Fast pace: shortly after its launch, Pliant is already showing its first successes and plans to go international this year
Strong growth: Investors' sales expertise as an additional growth accelerator
New approach to corporate credit cards: Pliant sets clear focus on technology leadership in card payments at best-in-market conditions. In doing so, Pliant enables flexible integration into existing processes and other best-in-class financial solutions through partnerships.
Berlin, 6 August 2021. Shortly after the market launch of Pliant, the FinTech with its best-in-class approach to credit card solutions for businesses convinces venture capitalists Alstin, Main Incubator, Saber as well as seed+speed and announces a funding round of USD 6.5 million.
Pliant offers its customers an optimal card solution with all modern FinTech features at the best conditions. At the same time, the corporate credit card solution can be combined with any house bank due to its credit functionality. "We offer the only solution that can be combined with other best-in-class SaaS offerings, especially in the areas of accounting, travel expense and invoice management. In addition, cashbacks make our offering financially attractive. This gives our users maximum flexibility and independence in designing financial processes," Rau continues. With this solution, Pliant has already convinced established companies like Jung von Matt and diva-e as well as younger tech companies like Clark and Friday.
The approach of simply integrating a FinTech card into the existing infrastructure of companies convinced Alstin: "Too many FinTechs try to offer good solutions in different highly specialised areas. This often goes wrong and we end up seeing a platform approach with rather average applications and without the ability to integrate with the best market solutions. This is what makes Pliant different and an impressively consistent path. We are happy to be able to accompany this path," says Noel Zeh from Alstin. Julian Bürklein from main incubator (early-stage investor of the Commerzbank Group) adds: "We see a strong demand from corporate clients for specialised and integrable financial products. Pliant offers exactly this flexibility including independence from the bank account." In addition, well-known angel investors such as Christian Gaiser, Julian Blessin and Raffael Johnen have invested.
Pliant will use the seed financing for internationalisation: Before the end of this year, the FinTech will offer its services in the first market outside Germany. "The flexibility of our technological platform allows us to quickly make market-specific adjustments. And the need for a truly digital and easy-to-integrate corporate credit card solution exists throughout Europe," explains Malte Rau. Further deepening the integration for companies and partners is therefore a second strategic goal alongside internationalisation. A foretaste of the flexibility of Pliant was already given in July with the introduction of Pliant earth. This feature allows users to automatically receive cashback for CO2 offsets when booking travel. "We believe that companies want different functionalities for each spending category. Pliant earth helps with both climate protection and communicating company values to employees," adds FabianTerner, CPO and Co-Founder of Pliant. Above all, Pliant earth has also convinced Alstin founder Carsten Maschmeyer: "With the function for CO2-neutral travel, Pliant proves how it enables simple sustainability for companies with its technology. Sustainable climate protection needs innovators like Pliant", comments Alstin founder Carsten Maschmeyer.
Pliant offers its customers a flexible digital corporate credit card solution that, in addition to fully digital card management and attractive cashbacks, focuses on seamless integrations into existing processes and best-in-class solutions. The company was founded in 2020 by FinTech veterans Malte Rau and Fabian Terner in Berlin.
Alstin II Fonds GmbH & Co. KG (Alstin Capital), is an independent, long-term oriented venture capital fund based in Munich. Alstin Capital's investment focus is on innovative, dynamically growing companies that are successfully active in markets such as Financial Services/FinTech, Insurance/InsurTech, Cyber Security and Industry 4.0.