Series C21 July 2021

Soldo secures 131.6m Series C investment led by Temasek to expand internationally

Temasek led the oversubscribed Series C round with participation from Sunley House Capital and Citi Ventures.

£132MSeries C

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 £131.6m in a Series C funding round led by Temasek to fuel its ongoing international expansion and product development. The oversubscribed financing round drew participation from new backers Sunley House Capital and Citi Ventures, alongside continued support from existing investors Accel, Battery Ventures, Dawn Capital, and Silicon Valley Bank.

The capital injection follows a period of rapid growth for the pay and spend automation platform, which has seen spend volume multiply fourfold since its previous funding round. Soldo intends to use the fresh funds to deepen its presence in key European markets including Benelux, France, and Germany.

From the founder

"We are delighted to welcome Temasek as the lead investor. With a track record of investing in category-leading fintechs, Temasek’s insights will be valuable to us as we scale our platform and offering. Managing business spend is costly and challenging, yet Soldo continues to demonstrate its value and ease to customers of every size and across every industry. It’s clear this category will see exponential growth as more businesses realise the benefits and Soldo is well placed to support them."

Carlo Gualandri

CEO and Founder at Soldo

Investor perspective

"Citi Ventures has been impressed by Soldo’s compelling strategy and market-changing mission to help businesses manage and control spend more efficiently. We look forward to supporting the company as it further expands its platform and transforms the future of business spend."