CleverCards Announces €8M Funding Round

  • Fundraising News
  • 14.06.2024 03:45 pm

CleverCards, the innovative digital payments platform, has successfully raised €8 million in its latest funding round. This investment includes significant contributions from Pluxee, a prominent player in Employee Benefits and Engagement, as well as additional support from existing investors.

This new round of funding elevates CleverCards' total capital raised to €28 million.

Launched in 2023, CleverCards has quickly established itself as a leader in the global digital payments sector. The platform enables businesses and public sector entities to create and distribute digital Mastercards to recipients worldwide instantly. Currently, over 10,000 businesses use the platform, serving 350,000 users across 92 countries.

The newly acquired funds will be used to accelerate CleverCards’ expansion and scaling efforts, solidifying its position as the most advanced digital payments platform globally. The company aims to address unmet market needs and push the boundaries of digital finance.

CleverCards has also enhanced its Board of Directors, welcoming five new non-executive members with extensive experience in scaling payment technologies globally.

CEO and founder Kealan Lennon expressed confidence in the company’s trajectory: “The growth we have experienced in the past two years has been formidable, and this investment round is a show of confidence in our trajectory. Pluxee’s investment is a significant endorsement of our vision and strategy as we push forward in our mission to transform digital payments globally. Their belief in our potential to innovate and connect the digital economy across borders is energising.”

CleverCards’ B2B customers and cardholder base are key drivers of its expansion, addressing needs left unmet by traditional financial institutions. The partnership with Pluxee not only helps scale CleverCards’ employee and social welfare benefits products but also positions the company for broader opportunities.

The fundraising was advised by Interpath Advisory, led by Liam Booth and James Gibson, and Wallace Corporate Counsel, led by Sean Wallace.

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