Soldo raises £48.7m in Series B funding led by Battery Ventures and Dawn Capital
The Series B round was co-led by Battery Ventures and Dawn Capital to accelerate international growth.
Soldo provides a digital pay and spend automation platform that gives businesses real time visibility and control over their corporate expenses. The company combines smart Mastercard corporate cards with comprehensive financial management software.
Soldo has secured £48.7m in a Series B funding round co-led by Battery Ventures and Dawn Capital. The capital injection also drew participation from Accel, Connect Ventures, and Silicon Valley Bank, bringing the business total raised to £65.4m equivalent.
The London-based fintech plans to use the fresh capital to accelerate growth and consolidate its market position across the UK, Italy, and Ireland over the coming year. Soldo provides spend management platforms and prepaid cards to companies ranging from microbusinesses to large enterprises.
From the founder
"I’m very proud of the team’s achievements over the past 12 months, but we have barely scratched the surface of the opportunity ahead of us. There are over 3 million businesses in our target markets, the UK and Italy, and over 5.5 million businesses in the next three largest markets in Europe. Most of these businesses are still using reimbursable expenses, spreadsheets and manual processes to manage the expense management cycle. The time saving and additional control over company spending and expense management that Soldo offers businesses of all sizes is a true game-changer, and we will continue to accelerate growth and consolidate our position as market leaders in the UK, Italy and Ireland over the next 12 months."
Carlo Gualandri
CEO and Founder at Soldo
Use of funds
- 01Expand into international markets
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