Corporate card and expenses start-up Mooncard has secured another €37 million from investors in its latest round of fundraising.
The France-based technology firm said that the Series C round of funding would allow it to begin a “new phase” in its development and growth in Europe.
Mooncard provides Visa cards that can be configured for individual employees and users, as well as automated corporate spending and expense report processes. The company said it has doubled payment volumes through its platform every year since Mooncard was founded in 2016.
The extra funding will be used to “accelerate” Mooncard’s expansion into six European countries: Germany, Austria, Belgium, Spain, Italy and Netherlands.
Pierre-Yves Roizot, CEO of Mooncard, said: “Thanks to this new round of financing, we will be able to build on the functionalities of our technology to meet the evolving needs of finance departments of all sizes of organisation, in the public and private sectors, in France and internationally.”
Mooncard has secured funding from two new investors – Orange Ventures and Canada-based fund Portage. Several existing investors have also put more money into the business.
The company said it already works with more than 6,000 companies both within France and beyond, as well as around 500 public institutions.