Moss, Berlin-based startup, is the most valuable startup in the German capital currently with a €75M Series B funding, led by Tiger Global, at a €500M valuation.
Moss provides a spend management service with credit cards to SMBs. This is an exciting development for the startup, which has been operating for five years to help businesses manage their finances.
Let’s explore what this all means for the Berlin startup scene.
Berlin-Based Moss, Which Provides A Spend Management Service With Credit Cards To SMBs, Raises A €75M Series B Led By Tiger Global At A 500M Valuation Romain Dillet TechCrunch
Moss is a Berlin-based startup that provides a spend management service with credit cards to small and medium-sized businesses (SMBs). The company has recently announced the closing of a €75 million Series B funding round, led by Tiger Global Management, at a 500 million euro valuation. Founded in 2015, Moss has become one of Germany’s most valuable startups.
Moss provides an innovative platform for SMBs to track and manage their budget by analysing expenses and maintaining full visibility over spending in real time. Through their platform, businesses can access virtual Mastercard credit cards used to purchase goods or services and automatically categorise all purchases into customizable groups such as marketing, travel & lease payments. Companies also benefit from easy invoicing between buyers and suppliers and out-of-the-box business intelligence enabled by AI algorithms.
With this latest round of funding, Moss adds onto its €10 million Seed Round secured back in 2018 to accelerate its product development and international expansion plans. In addition to Tiger Global Management’s investment, existing investors Earlybird Venture Capital, Point
Nine Capital and Concentric joined the round. The new capital will be put towards expanding Moss’ team of 80 employees across its two offices in Berlin and Shanghai and improving its backend infrastructure.
Moving forward with its intention to scale globally over 2020, Moss plans to cultivate long-lasting relationships with other financial institutions such as banks or insurers and build up two separate product lines: spend management tools for SMEs & B2B eCommerce payment solutions for SOHO/Businesses subscription commerce companies.
Moss’s Series B round of funding
Berlin-based Moss, which provides a spend management service with credit cards to small and medium businesses (SMBs), has raised a €75 million Series B led by Tiger Global at a $500 million valuation. This round will be put towards continued expansion into European markets and additional investments in product development and customer experience.
Backed by Kleiner Perkins, Moss was founded in 2017 and is currently used by over 3,000 companies. It enables SMBs to easily manage their spending with business credit cards while helping them understand how they spend their money. In addition to the credit cards, Moss also provides spending analytics software to help its customers track and analyse their expenditure trends so they can make better financial decisions.
The company’s mission is to empower businesses with financial insights and powerful spending tools that enable them to grow without worrying about financial complexity. With this new funding round led by Tiger Global, Moss will continue on its mission of being an all-in-one resource for SMBs so they can make well-informed decisions about their financial future.
Moss’s History
Moss is a Berlin-based startup that provides a spend management service with credit cards to small and midsize businesses (SMBs). Founded in 2016, the company has experienced explosive growth and raised €75M in Series B funding, led by Tiger Global, at a €500M valuation.
Let’s look at the journey of Moss and its growth into one of the most valuable startups in Berlin.
Moss’s founding story
Moss is a Berlin-based startup founded in early 2018 by four founders who met while studying Business Informatics at the Berlin Institute of Technology. The company was formed to provide spend management services to small and medium-sized businesses using virtual credit card technology.
At its core, Moss aims to simplify the process of managing expenses for its customers. The platform provides customers with prepaid virtual cards that can be used just like traditional credit cards, but without risk of overdraft or high-interest repayments. With these virtual cards, businesses can control and monitor their spending easily and securely, with real-time transaction visibility and updates.
Since launching, Moss has been rapidly growing with over 3500 customers across Europe in almost two years of business. In May 2020, Moss raised a €75 million Series B led by Tiger Global at a 500 million euro valuation – making it one of the most valuable startups in Berlin. This significant investment further cements Moss’s position as an industry leader in corporate expense management solutions for small and medium-sized businesses.
Moss’s growth and success
Moss is a Berlin-based startup that has been gaining traction in the fintech space. It provides an innovative spend management service for small- and medium-sized businesses (SMBs). The company raised €75 million in a Series B funding round, led by Tiger Global, valuing the business at €500 million—a significant milestone for the city’s tech ecosystem.
Since its foundation in 2015, Moss has been focused on supporting SMBs with their financial management services. By providing virtual credit cards, Moss simplifies the payment process and ensures visibility into employees’ spending without compromising security. The team also leverages AI algorithms to improve risk analysis, payment automation and fraud prevention capabilities.
The startup quickly achieved global recognition with their innovative technology and business model—and managed to grow its customer base more than 50 times over 2019/2020. Moss provides local businesses with modern digital services and promotes diversity by hiring a team from over 30 countries across four continents.
The company is set to leverage its new investment to further scale up its global product offerings and geographical reach. As demand for digital financial products has surged significantly during 2020, Moss’s positive growth seems especially promising for SMBs searching for suitable finance solutions for their daily operations and needs.
Moss’s Services
Berlin-based Moss provides an innovative spend management service to SMBs, leveraging credit cards to streamline their business operations. With a recent €75 M Series B funding led by Tiger Global, Moss has achieved a 500M valuation, making it one of the highest valued startups in Berlin.
As part of its service, Moss offers its customers a range of features and services, including spend analytics, automated expense tracking, and direct integrations with accounting software. Let’s look at Moss’s services in detail.
Moss’s spend management service
Moss, a Berlin-based startup which provides a spend management service with credit cards to small and medium-sized businesses (SMBs), has raised €75 million in a Series B round led by Tiger Global at a €500 million valuation. The new funding is designed to help SMBs improve their financial processes, such as budgeting, cash flow management and receipt tracking.
The Moss platform helps customers include necessary banking services while building an end-to-end system of streamlined accounts payable, reconciliation, custom reports and analytics dashboards. It also integrates with existing systems like QuickBooks Online, Xero and ExactOnline. With the Moss app, SMBs can issue corporate credit cards that can be used across multiple platforms without worrying about going over budget. The app also offers mobile payments for employees and customers alike.
The Moss system allows businesses to manage their spending more effectively by providing insights into areas of improvement both in the short and long term. Customers can track expenses from multiple accounts in one place and take control of the entire cost structure within the business from centralised hubs. The app further enables better cost control by allowing advanced forecasting based on historical trends with AI features that quickly detect anomalies in spending patterns, alerting customers about potential risk areas before losses occur due to unauthorised or fraudulent use of funds.
With this latest €75 million investment round led by Tiger Global at a 500M valuation, it is clear that Moss’s spend management service is revolutionising how SMBs handle cash flow across different platforms by offering enhanced capabilities that enhance transparency while keeping costs under control.
Moss’s credit card offerings
Moss is a Berlin-based company which provides a spend management service to small- and medium-sized businesses (SMBs). By offering an array of credit cards, Moss makes it easy for these businesses to buy and sell goods or services with one card. In addition, the company can provide single cards or group cards, making it easy for businesses to monitor their finances.
The range of credit card offerings that Moss has available serve the needs of all types of SMBs. For those who prefer traditional payment methods, Visa and Mastercard options offer multiple layers of security. In addition, Moss provides Apple Pay, Google Pay and PayPal powered debit cards for companies seeking a more modern approach to payments.
All of the Moss credit card offerings come with a suite of additional services built in such as real-time notifications for account holdings and unlimited spending reports so businesses can track their spending day by day. With these tools, companies can quickly make informed decisions about their expenses without crunching numbers.
Overall, with its array of payment options and financial services support tools, Moss’s credit card offerings aim to simplify managing business accounts for SMBs everywhere so they can focus more on running their operations than managing finances.
Moss’s Valuation
Moss, a Berlin-based startup that provides a spend management service with credit cards to small and medium-sized businesses (SMBs), recently secured a €75M series B funding round led by Tiger Global, leading to a 500M valuation. This makes Moss one of the most valuable startups in Berlin, an important milestone for the startup and the city.
Let us take a look at what this means for Moss’s valuation.
What led to Moss’s 500M valuation
Moss, a Berlin-based startup that provides a spend management service with credit cards to Small and Medium Businesses (SMBs), recently raised €75M in its Series B round, led by Tiger Global, at a 500M valuation. This remarkable feat was possible due to three key factors – the complicated funding landscape in Europe combined with their solid business plan and customer growth.
Firstly, the European angel fintech funding market is incredibly competitive, so raising capital requires a company to have the right timing and value offering. Notably, Moss has benefited massively from the involvement of prominent investors such as Seedcamp and Nauta Capital who are willing to invest in innovative fintech startups in Europe during uncertain times.
Furthermore, Moss’s business model enables small to medium businesses to optimise their cash flow while gaining more control over their spending by tracking expenses across
multiple brands without having multiple accounts. Furthermore, Moss has changed how companies can operate by changing how they utilise cards – providing businesses with an entirely digital setup that can save them considerable amounts of time manually organising expenses on multiple channels.
Finally, since European banks typically have difficulty providing access for SMBs’ clients – Moss has been able to fill this void resulting in organic customer growth arising from entrepreneur referrals. In addition, demonstrating competitive advantage and significant scalability potential within the European SMB market has enabled them to acquire such an astronomical valuation from Tiger Global & Co.
What this means for Moss’s future
Moss’s 500M valuation is a testament to the success and growth of the Berlin-based startup. In addition, the massive round of funding will provide Moss with a substantial capital base that can be put towards their expansion plans.
This will allow them to scale up their operations and bring their services to a larger customer base. The new influx of funds can also be used to innovate and develop new features to stay ahead of competitors that may enter the market shortly.
This will help maintain Moss’s strong foothold in the space and set them on a path for long-term growth and success. With this injection of funding, Moss is certain to reach even greater heights in the future.
