Soldo, a London-based business expense automation platform, announced that it has closed a US$180 million oversubscribed Series C funding round.
The fundraise was led by Temasek, a leading 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.
Soldo closed US$61 million in Series B funding in July 2019 and has since significantly increased the size of its business with more than 200 employees across offices in London, Dublin, Rome, and Milan.
The latest funding round will see the company deepen its focus on new markets including Benelux, France and Germany where Soldo sees immense potential for hyper-growth.
The firm will also be able to use the funds to continue accelerating product development and market expansion across Europe’s addressable market of US$170 billion.
The firm’s European pay and spend automation platform gives businesses real-time visibility and cost control across all departments, serving more than 26,000 customers from small and mid-market to global enterprise in more than 30 countries.
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.”
