In short: Pleo becomes a unicorn

Danish fintech company Pleo has just announced a new round of financing that will allow it to reach the status of a European unicorn. This Series C round of financing has enabled the company to raise $150 million, the largest ever for a Danish company.

This new investment brings Pleo's valuation to $1.7 billion and confirms its unicorn status.

Pleo currently operates its service in 6 countries (Denmark, UK, Germany, Ireland, Spain and Sweden) and has 300 employees and nearly 17,000 customers.

The company plans to support its R&D strategy with its new funds.

Exacerbated competition

The market for alternative financial services for professionals and small businesses is definitely booming. The context of government loans related to the health crisis has contributed to this situation. In the United Kingdom, Funding Circle and Starling bank are responsible for distributing these loans, while Qonto is in charge of them in France and Bpifrance is digitizing them.

But beyond the economic situation, a growing number of players are now fighting to gain a share of this high-potential market. Just recently, Square entered the battle in France, proving that after statutes, borders no longer represent competitive barriers.