CEO and founder Kealan Lennon. Image: Fergal Phillips
Officially launched in the market last year, the Dublin-headquartered fintech company now has more than 350,000 users across 92 countries.
Irish digital payments company CleverCards has raised €8m in an investment round led by employee benefits and engagement platform Pluxee and backed by existing investors of its global business. The investment brings the company’s total funding raised to date to €28m.
Founded it 2019, CleverCards has developed payments technology that allows businesses and public sector organisations to create prepaid digital Mastercards and send them to anyone (such as employees) via email or WhatsApp.
CleverCards was officially launched in the market last year and has since onboarded more than 10,000 businesses and 350,000 users across 92 countries.
“The growth we have experienced in the past two years has been formidable, and this investment round is a show of confidence in our trajectory,” CEO and founder Kealan Lennon said in an announcement today (14 June).
“Pluxee’s investment is a significant endorsement of our vision and strategy as we push forward in our mission to transform digital payments globally. Their belief in our potential to innovate and connect the digital economy across borders is energising.”
Headquartered in Sandyford, Dublin, the fintech will use the capital raised to accelerate its expansion plans and support its aim to create a globally leading digital payments platform.
In December, CleverCards created 35 new positions in Sandyford, including roles in sales and marketing, software development, legal and compliance. At the time, more than 5,000 Irish businesses had sent its digital Mastercards to their employees and customers for tax-free benefits, payouts and expenses.
The company closed a €10m funding round in 2021 and announced plans to acquire Italian expense management company ExpendiaSmart.
CleverCards is also adding five new members to its board: Patrick Waldron, Dónal Daly, Marc Frappier, Garry Lyons and Viktoria Otero del Val.
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