Amsterdam, January 19, 2022 – Moss, all-in-one spend management platform, has raised €75 million in a successful Series B financing round. Just six months after the Series A Extension round with the likes of Peter Thiels VC Valar Ventures, Moss now also has Tiger Global and A-Star behind him. With this, the startup is heading towards unicorn status in less than two and a half years after its official establishment. The company’s post-money value is now estimated at half a billion euros, with a total capital of €130 million.
A successful start in the Netherlands
The FinTech startup entered the German market in mid-2020 with the first real business credit card for SMEs, startups and tech companies. In the meantime, the product has been significantly expanded to include a holistic spend management solution. The combination of smart business payment cards, digital invoice management and the seamless connection to existing accounting programs, such as Exact, has proven to be a success formula – and necessary, given the often limited digital base available to finance departments. Companies including TicketSwap, Naduvi and O My Bag already manage their expenses with Moss’ smart total solution.
From its Amsterdam office, Moss launched in the Netherlands on November 1, 2021 under the leadership of David Soos, Country Manager Netherlands. In less than three months, the local team grew to 25 employees.
“Moss’ strong growth in the Netherlands demonstrates that our innovative spend management solution solves an urgent problem for businesses. We work closely with our customers and partners to continue to improve the product and to further expand our position in the Dutch market with this perspective,” said David Soos.
Ambitious future plans
John Curtius, partner at Tiger Global, about the investment: “Moss immediately convinced us with their innovative product. It enables companies to redesign their spend management in a meaningful way. Thanks to the unique technology, the growth potential is great. We are pleased to be able to support the further development of Moss and contribute to conquering even more markets.”
Moss has great ambitions. After the successful start in the Netherlands, it turned out that there is also a lot of international demand for this innovative approach for business expenses. In the coming months, Moss aims to conquer Britain, with other countries to follow before the end of the year.
Technical innovations
In addition to entering new markets, founders Ante Spittler, Anton Rummel, Ferdinand Meyer and Stephan Haslebacher are planning even more technical innovations. One of these is a total solution for planning and forecasting liquidity. The goal is to create an all-encompassing platform in which all functions and data are connected, but can also be used independently of each other.
“We see a strong desire in many companies to further digitize and automate financial processes and payments. With our solution we want to help them get the most out of their business. This vision motivates us every day to always think one step further,” explains CEO and co-founder Ante Spittler.
To achieve that goal, the current team of more than 250 people will be significantly expanded, particularly in the areas of product, technology, marketing and sales.
About Moss
Moss is a technology-driven spend management platform. With Moss, customers can easily and securely create an unlimited number of virtual and physical business payment cards. Thanks to the intuitive software, companies not only create more transparency and overview in their expenditure, but they are also more flexible, because each individual employee can act at any time. In addition, the digital invoice management and the seamless connection to existing accounting programs make the work of finance teams much easier.
Berlin and Amsterdam-based FinTech was founded in 2019 by Ante Spittler, Anton Rummel, Ferdinand Meyer and Stephan Haslebacher. With a team of more than 260 financial and software experts, Moss is working on the ultimate expense management solution.
About Tiger Global Management
Tiger Global Management is an investment company that deploys its capital worldwide. The aim is to provide investors with above-average risk-adjusted returns over the long term. Tiger Global targets public and private companies in the Internet, software, consumer and financial technology sectors. The team emphasizes integrity, honesty, continuous improvement, teamwork, as well as the pursuit of world class and long-term thinking. Founded in 2001, Tiger Global is based in New York with offices in Hong Kong, Singapore, Bangalore and Melbourne. The company has invested in Facebook, LinkedIn, Spotify, Nubank and Stripe, among others.
