Berlin-based Moss, a payment and credit card platform that enables companies to optimise their finances, announced on Wednesday that it has secured €50M in debt facility from HSBC Innovation Banking UK.
The German company says it will use the funds to accelerate its European expansion, enabling the company to offer an increasingly attractive spend management and next-generation corporate credit card solution to small and medium-sized businesses (SMBs).
The announcement comes as the company doubled its business in 2023 and now serves thousands of leading SMB customers with its products and services.
Moss: Holistic solution for spending
Moss was founded in 2020 by Ante Spittler, Anton Rummel, Ferdinand Meyer, and Stephan Haslebacher.
The platform enables startups, tech companies, and SMEs to issue employee and team credit cards, and manage all company spending using the Moss software platform powered by a proprietary card issuing and risk engine.
The product currently offers four modules that companies can use either as a complete integrated solution or individually.
Moss enables flexible issuing of virtual and physical credit cards, digital entry and approval of invoices, smooth processing and reimbursement of employee expenses, and reliable liquidity management.
All four modules benefit from efficient accounting automation and integrations with common accounting software and ERP systems. With Moss, finance departments gain real-time visibility and control over all expenses and boost productivity across the business, says the company.
Users can also identify trends in spending behaviour, track monthly changes, identify unnecessary expenses and, thus, save time and money.
Going forward, customers will have the choice of using the platform as a complete solution for their spend management or build a customised modular solution based on their needs.
Read the orginal article: https://siliconcanals.com/news/startups/berlin-based-moss-secures-50m/
