French FinTech Mooncard raises €37m in Series C
By Gloria Methri
French FinTech Mooncard has raised €37 million in equity funding from Orange Ventures fund and the Canadian fund Portage. Existing investors, Aglaé Ventures, Blackfin Capital Partners, Partech Partners, and RAISE Ventures also contributed to the Series C funding.
Mooncard says the new investment reflects the strength of its solution and its partners Visa, WTW, AIG, Flying Blue, and John Paul who enable it to deliver corporate spend management for finance teams in France and throughout Europe.
The new funds will be used to enhance the functionalities of Mooncard’s technology to meet the evolving needs of finance departments in all sizes of organisations, in both the public and private sectors, in France and internationally.
The FinTech is recognised for its expertise in the configuration of cards, the identification of VAT recoverable, and full integration of accounting entries. Its R&D teams explore new solutions and features to best meet accounting requirements, anticipate changes in legislation and perfectly align uses with the policies of expenses of its customers.
Since its launch, Mooncard has onboarded over 6,000 European companies and nearly 500 public institutions in France. It claims to have doubled payment volumes through Mooncard every year since its launch, making it more convinced than ever that this is the solution that companies are looking for.
Mooncard plans to accelerate its development and adaptation to the requirements locally in 6 European countries (Germany, Austria, Belgium, Spain, Italy, and the Netherlands).
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