This fintech configures expense cards to block misuse — and investors just backed it with millions
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CleverCards, a Dublin-based digital payments firm, has raised 8 million euros of funding from investors including Pluxee, an employee vouchers and benefits platform.
CleverCards, a Dublin-based firm, uses a digital platform linked to configurable expense cards to give companies control over how their employees use their corporate payment cards.of CFOs by human resources firm Robert Half, employees have made several improper expense report requests including a doggie day spa, taxidermy services, dance classes, a side of beef and even a welder.
"It's finance control," he added. "The idea of a configurable payments platform hadn't been done before. And by doing it digitally, that allowed customers come along and say, I want to be able to do this with the press of a button."CleverCards told CNBC exclusively Friday that it raised new funds in an investment round led by strategic investor Pluxee. The fresh investment takes the total money raised by CleverCards to date to over 28 million euros.
Lennon said that CleverCards' funding round stood out in what has been a brutal market for dealmaking and fundraising in fintech.