This latest round of funding brings Moss to a $264M valuation. Here are the top-line bullets you need to know.
Moss, a fintech startup, has raised $29M in a Series A extension round. The round drew participation from Valar Ventures, Global Founders Capital, and Cherry Ventures.
HOW’S THE COMPANY PERFORMING?
- Berlin-based Moss provides corporate credit cards and expense management solutions to small- and medium-sized enterprises (SMEs) in Germany.
- Since its inception in mid-2020, the company has issued over 8,500 credit cards (both physical and virtual) and processed over 100,000 transactions.
- It reportedly has a market share of 15% among Germany-based startups and has witnessed its number of customers quadruple in the last 6 months.
- Moss plans to double the size of its current workforce of 100 employees by the end of 2022.
Why does the market matter?
- Around the world, fintech has seen a boom in funding in recent years. In Q2’21, VCs invested $30.8B across 657 deals in fintech companies.
- The global fintech services adoption rate stands at 25%, according to Market Data Forecast — an enormous opportunity for growth to providers and first movers.
- The Covid-19 pandemic drove the adoption of cashless transactions, increasing demand for digital payment solutions and online payment gateways.