From CNBC: 2024-06-14 00:00:01

CleverCards, a Dublin startup, raises $8.6M to prevent employee expense abuse. The digital platform allows companies to control corporate payment cards. A global survey reveals strange expense requests, prompting CEO Kealan Lennon to develop finance control. The funds, led by Pluxee, bring CleverCards total raised to 28M euros.

CleverCards signs on 10,000+ businesses including eBay, Microsoft, and Apple as clients. They partner with the UK government for social welfare payments, using AI for identity verification. CEO Lennon notes success in fintech market despite tough conditions, claiming to take business from giants like Adyen and Stripe.

The funding round will fuel CleverCards’ expansion and product scaling. Five new non-executive directors with payment tech experience are appointed. With a tough environment for fundraising, CleverCards looks to continue growth and explore new opportunities in the market.

Read more: CleverCards, a configurable payments startup, raises $8.6 million