Berlin-headquartered Moss, a financial platform specializing in payments and credit cards designed to help businesses optimize their finances, revealed that it has successfully secured a €50M debt facility from HSBC Innovation Banking UK.
These funds will serve as a catalyst for the German company’s European expansion, further enhancing its ability to provide small and medium-sized businesses (SMBs) with an even more appealing spend management and cutting-edge corporate credit card solution.
This announcement coincides with the company’s remarkable growth in 2023, where it achieved a doubling of its business and is now serving thousands of prominent SMB customers through its diverse range of products and services.
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Moss: Comprehensive Spending Solution
Moss was established in 2020 by Ante Spittler, Anton Rummel, Ferdinand Meyer, and Stephan Haslebacher.
The platform empowers startups, tech firms, and SMEs to issue employee and team credit cards while efficiently managing all corporate expenditures through the Moss software platform, driven by its proprietary card issuing and risk engine.
Currently, the product comprises four modules, which companies can either integrate as a comprehensive solution or use individually.
The German startup facilitates flexible issuance of both virtual and physical credit cards, enables digital invoice submission and approval, streamlines the processing and reimbursement of employee expenses, and ensures reliable liquidity management.
All four modules benefit from streamlined accounting automation and seamless integrations with widely-used accounting software and ERP systems. Moss provides finance departments with real-time visibility and control over all expenditures, enhancing productivity throughout the organization.
Users can also analyze spending patterns, track monthly variations, identify unnecessary expenses, ultimately saving both time and money.
In the future, customers will have the flexibility to use it as an all-encompassing spend management solution or tailor a modular solution to meet their specific requirements.
