Pleo pockets $3m to control company card spending sprees

Danish Expenses automation service Pleo has raised $3m in a new round of funding to help companies control employee spending.

The round comes from Copenhagen-based early-stage investor Founders.

Pleo’s platform is designed to reduce the administrative wrangling involved in employee expenses by allowing companies to offer physical or virtual cards for them to make purchases.

Spending is then fed directly into Pleo’s dashboard preventing employees from having to keep hold of receipts and fill in expenses claims.

The company is currently in beta mode in the UK and Denmark and claims 650 companies are signed up for early access to the service.

It will use the funding to work towards its public launch and ramp up development.

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