A Berlin-based credit card fintech company, Moss, has reportedly raised €21M in its Series A round of funding led by early Facebook investor Peter Thiel’s US-based firm Valar Ventures. With this funding, the startup is now valued at €100M within just six months after its launch.
The round also saw participation from its existing backers Cherry Ventures and Global Founders Capital. To date, the company has raised a total of €30M.
With the raised capital, the startup aims to accelerate the development of its payment and credit-card platform.
Everything about Moss
The company was founded in 2019 by Ante Spittler, Anton Rummel, Stephan Haslebacher, Harald Wendel, Sergio Lopez, and Nick Mironenko.
Moss is a technology-based payment and credit card platform that enables companies to optimise their finances. Startups, tech companies, and SMEs can issue employee and team credit cards and manage all company spending using the Moss software platform that is powered by a proprietary card issuing and risk engine.
Finance teams maintain full control by having full visibility into transactions made, pre-approving purchases, and adjusting all cards and limits in real-time. Additionally, all expenses can be documented with receipts and assigned to cost centers. At the end of the month, all data can be transferred to any accounting software via user-defined exports.
With Moss, you can identify trends in spending behavior, track changes from month to month, and identify unnecessary expenses and thus save time and money.
Moss virtual cards
To become a Moss customer, your business must be incorporated in Germany and should have raised atleast a €100K in funding from professional investors. The cards are issued by Transact Payments Malta Limited and provided in cooperation with a German partnerbank.
Moss Virtual credit cards are digital credit cards linked to your Moss account. You can start using virtual cards as soon as the company approves it. One can create as many virtual cards as needed with the ability to change limits, freeze, and terminate cards – all in real time.
The company lets you create specific virtual cards for individual merchants, purchases or subscriptions. This helps simplify the accounting process, and is also secure as per the company. You can set an individual card limit for each merchant or purchase, and if you need to block an individual card, your other virtual cards remain active.
Source: Silicon Canals
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