Fuell, a Madrid, Spain-based startup that has developed a corporate card and expenses management SaaS, closed a €1.5 million round led by Y Combinator and Fin Capital.
US business angels Michael Levinthal and Andy Cohen also participated in the round, and have previously invested in fintech companies Concur, Divvy, or Clara.
The capital raised will be put toward consolidating Fuell’s Spanish and Portuguese markets and launching in Italy.
Company: FUELL TECHNOLOGIES, S.L.
Funding Month: July 2022
Lead Investors: Y Combinator and Fin Capital
Additional Investors: Michael Levinthal and Andy Cohen
Company Website: https://www.getfuell.com/
Software Category: corporate card and expenses management SaaS
About the Company: Founded by Eduardo Ortiz de Lanzagorta, Fuell has reinvented B2B financial services, through a corporate credit card that brings together for the first time the equipment, payment, and accounting means. Fuell is the only corporate card and expense management software that helps you spend less. Fuell helps companies better manage and organize expenses via corporate cards and employee reimbursements. The company automates expenses management enabling employees, accountants, and CFOs to save money and time. With only two clicks, the Fuell platform synchronizes expenses within companies’ accounting software. Additionally, Fuell automatically converts receipts into invoices to support companies recovering VAT in more than 500,000 restaurants, parking lots, and cabs. Recently graduated from Y Combinator, trusted by 150 companies and have saved an average of 50 minutes per employee + 18 minutes of administration + team motivation by adopting our solution.