Moss Raises $86 Million for European Spend Management

Moss Secures $86 Million in Series B Funding

Moss, a startup headquartered in Berlin, recently announced the successful completion of an $86 million (€75 million) Series B funding round. The company specializes in providing corporate credit card solutions designed to streamline spending and expense tracking for small and medium-sized businesses.

Valuation and Investment Details

This latest funding has propelled Moss to a valuation of $573 million (€500 million). Tiger Global Management spearheaded the Series B round, with additional participation from A-Star. To date, the company has accumulated approximately $150 million (€130 million) in total funding.

Positioning in the Spend Management Landscape

Moss functions as a comprehensive spend management platform. It operates within a competitive European market alongside companies like Spendesk, Pleo, and Soldo. A key differentiator for Moss is its focus on offering credit cards, unlike many competitors who primarily provide debit card solutions.

Despite utilizing credit cards, transaction details are immediately visible within the Moss dashboard, appearing just seconds after the payment is processed.

Features and Benefits for Businesses

Beyond traditional physical cards, Moss enables the creation of virtual cards specifically for online purchases. Customers benefit from a 0.4% cash back reward on all expenses incurred through the platform.

This approach eliminates the need for companies to share a single corporate card. Team leaders can establish individual budgets for employees and monitor spending with greater precision.

Employee Expense Management

Corporate cards are not yet widely adopted by European businesses. Moss addresses this by allowing employees to avoid personal expense reimbursements. Employees can utilize a Moss card and directly attach receipts to each transaction.

The platform also accommodates cash expenses and reimbursements, even in situations where card payments are not accepted.

Centralized Invoice Management and Accounting Integration

Moss extends beyond card payments, offering a centralized system for managing all company invoices within a single account. Users can configure approval workflows and generate payment lists for seamless integration with their business bank accounts.

Furthermore, Moss integrates with Datev, a widely used accounting software package in Germany, to accelerate accounting processes.

Future Product Development

The startup intends to evolve its product offering towards a more modular structure. This will allow businesses to select and utilize only the specific features they require, rather than being compelled to adopt the entire spend management suite.