Mooncard, a Paris, France-based corporate spend management firm, raised €37 million in a Series C funding round led by Orange Ventures and Portage.
Existing investors Aglaé Ventures, Blackfin Capital Partners, Partech Partners, and RAISE Ventures also participated in the round.
The funding will be used to develop new solutions, particularly to meet evolving accounting requirements, and will assist the firm as it aims to adapt its offering to meet the local needs of six additional European markets, namely Germany, Austria, Belgium, Spain, Italy, and the Netherlands.
The firm says companies can open an account “in five minutes” and have a card available within 24 hours. It currently claims to have more than 6,000 companies as clients.
“Thanks to this new round of financing, we will be able to build on the functionalities of our technology to meet the evolving needs of finance departments of all sizes of organizations, in the public and private sectors, in France and internationally,” says Pierre-Yves Roizot, CEO of Mooncard.
Mooncard offers a cloud-based Software-as-a-Service (SaaS) solution that allows firms to automate their corporate spend and expense report activities. It provides Visa-powered spending cards with controls, spend management and approval tools, and accounting functionalities.
Company: Moongroup SAS
Round: Series C
Funding Month: April 2023
Lead Investors: Orange Ventures and Portage
Additional Investors: Aglaé Ventures, Blackfin Capital Partners, Partech Partners, and RAISE Ventures
Company Website: https://www.mooncard.co/
Software Category: Spend Management Software
About the Company: Founded in 2016 by Tristan Leteurtre, Damien Metzger, and Pierre-Yves Roizot, Mooncard is a SaaS solution for business expenses and corporate spend management. It offers an integrated solution with a fully secure and configurable card, a management application, and an accounting engine. Mooncard automates expense reports with smart payment cards linked to accounting and management software. The company’s mission is to enable employees to reduce the mental load associated with expenses and to spend time on tasks with more added value for themselves and their organization. Present in France, Germany, Austria, Belgium, Italy, Spain, and the Netherlands, Mooncard has already won over more than 6000 companies in France and Europe