Moss: A Berlin success story
Moss valued at over 500 million euros after Series B and it is on its way to achieving unicorn status
Moss, the technology-driven platform for holistic spend management, has closed a successful Series B funding round of 75 million euros. The company’s remarkable development has now won over Tiger Global and A-Star, merely six months after the last financing round with Peter Thiel’s VC Valar Ventures, among others. The Berlin-based startup is on its way to achieving unicorn status in less than two and a half years since it was officially founded, with a company valuation of over 500 million euros and total capital of 130 million euros.
The FinTech was initially launched in mid-2020 as the first real corporate credit card for startups and digital companies in Germany. In the meantime, Moss has entered the SME market successfully, and expanded the product portfolio significantly. In the future customers will have the choice of using the platform as a complete solution for their spend management, or to build a customized modular solution based on their needs.
With Moss, companies can flexibly issue virtual and physical credit cards, digitally enter and approve their incoming invoices, easily process and reimburse employee out-of-pocket expenses such as travel costs, and reliably manage their liquidity.
All these modules benefit from efficient accounting automation and integrations with common accounting software and ERP systems. Moss credit cards have the advantage of especially high credit lines and come with payment terms of up to 60 days or attractive cashback offers. Since its inception, Moss has issued more than 20,000 physical and virtual credit cards and processed over 250,000 transactions. Additionally, the company has grown tremendously. Since the former financing round in August last year, the team has doubled and the number of customers quadrupled.
Its ambitious goal is to enter the UK market, enhance the product and boost team growth. After the Netherlands, the Startup now wants to conquer the UK with its credit card and platform for holistic spend management. The successful launch in the Netherlands shows that the Moss solution is in high demand in international markets as well. So far, companies such as Ticketswap, Naduvi, and O my bag have already adopted the Moss solution.
“Moss was able to convince us immediately with its innovative product. The modularity of the solution, in particular, enables companies to set up their spend management systems based on individual requirements and to massively streamline financial processes. Thanks to its unique technology, the potential for growth is immense. We are very pleased to be able to support the team to continuously grow in their core market of Germany and expand to additional markets.”, stated John Curtius, Partner at Tiger Global.