Paris-based Mooncard, a fintech company, announced that it has raised €37 million in a Series C funding round.
The investment comes from Orange Ventures and the Canadian fund Portage, and from previous investors Aglaé Ventures, Blackfin Capital Partners, Partech Partners and RAISE Ventures.
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Mooncard says it will use the funds to accelerate development and adapt to local specifications in 6 European countries – Germany, Austria, Belgium, Spain, Italy and the Netherlands.
“Mooncard is recognized as a productivity tool for companies, enabling them to manage costs as accurately as possible and optimize employee efficiency. Thanks to the strength of our business model, the loyalty and satisfaction of our customers, and the controlled management of our growth, we have convinced new investors to join us, while maintaining the confidence of our existing investors, explains Pierre-Yves Roizot, CEO of Mooncard
Mooncard: Automates your company’s expenses
Founded in 2016 by Tristan Leteurtre (President) and Damien Metzger (CTO), and managed by Pierre-Yves Roizot (CEO), Mooncard specializes in the automation of corporate spending, offering an integrated solution with a fully secure and configurable card, an administration application and an accounting engine.
Mooncard payment card is an ultra-secure Visa card that can be easily configured for each employee or user profile.
This card offers a wide range of features, including daily spending limits, the ability to enable spending categories such as restaurants, petrol stations and taxis, and the ability to disable others such as cash withdrawals, overseas purchases, online spending and more.
Mooncard’s cards also offer a customizable spend approval workflow, so businesses can customize the number and type of managers who can approve spend.
In the event of an exceptional request, managers or administrators can automatically receive an SMS to react in real time, ensuring full control of consumption for the company while entrusting a payment card to each of its employees.
The company’s cloud-based software enables real-time monitoring of all transactions, and ensures full transparency in the consumption process.
For employees, the solution eliminates the need to advance personal funds for business or mobility expenses, simplifying the process and improving employee satisfaction.
Every time an expense is incurred using a Mooncard, the tamper-proof payment data is automatically and immediately pre-filled and converted into an accounting record.
The employee only needs to photograph the receipt with their smartphone for archiving, which has legal value with the relevant tax authorities.
The investors
With an allocation of €350 million, Orange Ventures invests in innovative start-ups in areas of strategic interest to Orange (Network and IT, Digital Enterprise, Cybersecurity and Fintech) and beyond (Consumer platforms, E-gaming, Edtech, Health, etc).
Orange Ventures also distributes initiatives dedicated to the Africa and Middle East region.
“We are pleased to announce our investment in Mooncard, an innovative French fintech that offers tailor-made payment solutions for companies and their employees, thus contributing to the digital transformation of companies and administrations. This new funding round will enable Mooncard to strengthen its position in the payment card market for businesses both in France and internationally, says Clément Combal, partner at Orange Ventures
Portage is a global investment platform focused on fintech and financial services with over $2B under management, 65 portfolio companies in 13 countries and 55 professionals in 4 countries.
“Portage is excited to support Mooncard in its next phase of expansion. With over 6,000 customers and growing rapidly, Portage believes Mooncard is the clear category leader in corporate debit card and business expense management software. We believe Mooncard is well-positioned to serve the modern, evolving needs of finance teams and corporate employees across Europe,” explains Hélène Falchier, partner at Portage
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