Moss Raises $25.5M to Revolutionize Corporate Credit Cards

The German company Moss has secured $25.5 million in a new funding round, equivalent to €21 million, with Valar Ventures taking the lead. Cherry Ventures and Global Founders Capital, who had previously invested, also contributed to this round. Moss delivers credit cards and a comprehensive spending solution tailored for small and medium-sized businesses operating within Germany.

The firm has engineered a proprietary risk assessment system to determine appropriate credit limits for businesses. Similar to Brex in the United States, Moss aims to provide significantly higher credit card limits than those typically available from conventional banks.

It’s important to note that Moss concentrates on providing credit cards, rather than prepaid or debit cards. Customers are granted a spending limit and billed at the end of each month, eliminating the need to pre-fund a Moss account before making purchases.

These credit cards operate on the Mastercard network. Administrators have the capability to issue physical cards to individual employees or teams. Furthermore, virtual cards can be generated for secure online transactions and recurring subscription payments, with customizable spending limits assigned to each card.

Through a central administration interface, businesses can monitor expenditures, locate specific transactions, and view their active subscriptions – a feature designed to help identify and eliminate redundant charges. Users are also able to attach receipts and relevant details to each transaction to streamline accounting processes.

To date, the company has distributed 1,000 credit cards and facilitated 10,000 transactions. Currently, Moss’s customer base primarily consists of startups and technology firms. However, the recent funding is anticipated to enable expansion into a broader range of industries in the near future.

Moss’s competitive landscape includes companies like Spendesk and Revolut Business, which largely emphasize debit card offerings. It remains to be seen whether focusing on credit cards will prove to be a key advantage for Moss in the market.