Soldo closes $180m Series C funding round led by Temasek

By Megha Bhattacharya

Soldo, the European pay and spend automation platform, today announced that it has closed a $180m oversubscribed Series C funding round, a European record for the spend management category. The fundraise was led by Temasek, a global investor headquartered in Singapore. The round includes new investors Sunley House Capital, Advent International’s crossover fund, Citi Ventures and continued backing from Accel, Battery Ventures, Dawn Capital, and Silicon Valley Bank for debt financing. Goldman Sachs acted as the exclusive placement agent to Soldo for the deal.

Carlo Gualandri, CEO and Founder of Soldo said: “We are delighted to welcome Temasek as the lead investor. With a track record of investing in category-leading fintechs, Temasek’s insights will be valuable to us as we scale our platform and offering. Managing business spend is costly and challenging, yet Soldo continues to demonstrate its value and ease to customers of every size and across every industry. It’s clear this category will see exponential growth as more businesses realise the benefits and Soldo is well placed to support them.”

Soldo’s European pay and spend automation platform gives businesses real-time visibility and cost control across all departments. The funding round means Soldo can continue to accelerate product development and market expansion across Europe’s addressable market of $170bn.

Luis Valdich, Managing Director, Citi Ventures said: “Citi Ventures has been impressed by Soldo’s compelling strategy and market-changing mission to help businesses manage and control spend more efficiently. We look forward to supporting the company as it further expands its platform and transforms the future of business spend.”