Temasek led the oversubscribed Series C round with participation from Sunley House Capital and Citi Ventures.
"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."
Lightspeed Venture Partners led the Series D round, which included participation from Battery Ventures, Sapphire Ventures, Scale Venture Partners, and Silicon Valley Bank UK Branch.
"Modern data teams are facing an influx of data from across the enterprise, while under immense pressure to rapidly deliver the actionable insights required to compete in today's digital economy,"
The Series B round was co-led by Battery Ventures and Dawn Capital to accelerate international growth.
"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."
