Temasek has led a $180 million Series C funding round for UK PayTech firm Soldo, which was led by the Chinese investor.
Also participating in the capital raise was Sunley House Capital, Advent International, Citi Ventures, Batter Ventures, Silicon Valley Bank, Dawn Capital, Accel Partners, and Silicon Valley Bank.
With Soldo, you can manage your entire expense lifecycle and manage all of your employees’ costs in an easy and convenient way. Soldo was founded in 2014, and it provides a multi-user spending account that can do the same. There are a lot of key customers of Gymshark, including Mercedes Benz, Brooks Running, GetYourGuide, and Mercedes Benz.
In July 2019, the company raised $61 million as part of its Series B round, which builds on the previous funding. Soldo has grown to employ over 200 people across its offices in Dublin, London, Milan, and Rome since it was founded in 2008.
Soldo believes that this recent raise will allow it to invest more heavily in new markets such as France, Germany, and Benelux in the upcoming years.
Mariano Dima, the president of Soldo said, “We know that most senior finance employees and chief financial officers spend more than half of their time on cumbersome tasks, which are mainly caused by disjointed payment systems and manual, time-consuming processes.
It was revealed in a Soldo study of the finance directors and chief financial officers of European companies that weak spending controls were causing 2% of the annual turnover of these businesses to be lost. By making employees’ lives easier and businesses more aware of all costs, Soldo aims to eradicate a very expensive reality – which is the reality that Soldo wants to eradicate – so that they are able to truly control their spending and be prepared to prosper after the pandemic and long after.”
U.K. payments company Soldo has closed a $180m Series C round of investment led by Temasek.
Some of the top angel investors who participated included John Doerr, Eric Schmidt and Larry Ellison at Kleiner Perkins Caufield & Byers, Mark Cuban, Chris Sacca, Jeff Bezos, Marc Andre
Founded in 2014, Soldo is a multi-user spending account that allows companies to manage their entire expense lifecycle and manage employees’ expenses.
The company has several key customers, such as Gymshark, Mercedes Benz, Brooks Running, and Get Your Guide. We hope you found the above Amazon examples useful.
This funding round adds to the company’s previous Series B funding in July 2019.
Since then, Soldo has expanded its team to more than 200 people in Dublin, London, Milan, and Rome.
This is a move that the company should have made many years ago.
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