Pleo, the Danish fintech unicorn simplifying expense management for businesses of all sizes across Europe, and Enfuce, with the leading European Card-as-a-Service platform for modern card issuing and processing, have won the prestigious PayTech Award with their joint corporate card initiative.
Pleo and Enfuce began their partnership in the beginning of 2019. At the time, Pleo needed a reliable and stable payments processing platform, and a payment card solution that was highly end-user friendly and scalable. Enfuce was the first financial service provider in the world to be PCI-DSS certified while running its service in the public cloud. By partnering with Enfuce, Pleo found a uniquely scalable payments processor who could help them expand across Europe. Enfuce’s reliability and stable uptime were also some of the main criteria for Pleo in forming a partnership.
“We’re overjoyed to have been named winner of the best corporate card initiative with Enfuce and it’s certainly another standout moment in our journey. This partnership has enabled us to accelerate our growth into new markets across Europe and allows us to offer Pleo to even more forward-thinking companies everywhere,” says Thorbjørn Fink, COO at Pleo.
The corporate card initiative has been a great success. Pleo has issued over 100,000 cards and serves over 20,000 customers while retaining a five-star customer rating and reaching a USD 4.7 bn dollar evaluation. The scalability of Enfuce’s payment processing platform has further allowed Pleo to quickly implement and launch new features and offers for their various markets. Multi-currency processing, for example, has greatly eased Pleo’s European expansion.
Pleo offers a business spend solution with many valuable features, such as choice of both virtual and physical cards, direct integrations to accounting software, digital wallets, and easy card management. Benefits of the Pleo service include significant time saving, as finance teams and CFOs no longer have to process manual receipts, real-time data which provides a constantly updated business spend overview and the empowerment of employees to buy what they need for work without spending out of pocket. The payment process, along with all the extra features, are controlled by the end-user through a single interface: an easy-to-use application on their mobile phone.
“The collaboration between the two teams has been very synergistic, with decisions being made in tandem with one another. It has been one of the key factors that contribute to our joint success now and in the future. It has been a privilege for us to be a part of Pleo’s journey, and we are truly impressed by how they have grown into a unicorn,” describes Denise Johansson, Co-CEO and Co-Founder at Enfuce.
The PayTech Awards, in their fifth year, recognise excellence and innovation in the use of IT in the finance and payment industry worldwide. Entries in the category must bring tangible improvements to the end-user as well as the organisation providing the product, increase the organisation’s efficiency and competitiveness, and be commercially viable.
