Germany-based Moss, a payment platform for SMEs that offers smart corporate credit cards, manages payments, financial processes, and cash flow efficiently to build a modular solution customized to their needs, raised USD 86 million on 19th January 2022.
Investors: The investment round was led by Tiger Global and A-Star. The startup is valued at over USD 573 million, with a total capital of USD 149 million raised.
Purpose of funding: The startup is scaling up its operations and team count to expand in the European market and penetrate international markets. Further, developing more accuracy and focusing on product development to improve services using the funding.
Founded in 2019 by Ante Krsanac, Ante Spittler, Anton Rummel, Max Meyer, and Stephan Haslebacher, Moss is located in Berlin, Germany. Moss is a payment platform for SMEs that offers smart corporate credit cards and efficiently manages payments, financial processes, and cash flow through the platform to build a modular solution customized to their needs. A few of the services offered by the startup include issuing virtual and physical credit cards, approving invoices digitally, efficiently processing employee reimbursements, and managing their cash flow.
Along with credit cards with high credit lines, the startup also offers cashback offers and payment terms of up to 60 days. Over 250,000 transactions have been processed with more than 20,000 physical and virtual credit cards issued by the startup. The startup aims to transform the financial management of mid-sized companies and help them realize their full potential. The startup aims to help SMEs manage their finances more efficiently and maximize their potential.
What the founder has to say
“There is a strong demand in the market to further digitize and automate financial processes and payments. With our solution, we want to help companies realize their full potential. This vision drives us and motivates us to take Moss a step further constantly,” said Ante Spittler CEO and Co-Founder at Moss.
What the investor has to say
“Moss was able to convince us immediately with its innovative product. The modularity of the solution, in particular, enables companies to set up their spend management systems based on individual requirements and to streamline financial processes massively. Thanks to its unique technology, the growth potential is immense. We are very pleased to be able to support the team to continuously grow in their core market of Germany and expand to additional markets,” said John Curtius, Partner at Tiger Global Management.
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