Pliant was founded in 2020 and offers a credit card platform that integrates with enterprise resource planning software to enable businesses to issue virtual, physical, and one-time credit cards.

The business provides an embedded card platform to other fintech companies so they can sell it to their customers. Two recent hires include Circula, a software supplier for employee perks and travel expenses, and Candis, an invoice management software business.

Partner at PayPal Ventures Ashish Aggarwal says: "Pliant has become a major force in B2B payments in continental Europe because of its next-generation, multi-tenant credit card-as-a-service platform, which makes it simple to integrate via embedded user interfaces or application programming interfaces. We are honored to be supporting the business as it expands.

The round also included participation from previous investors SBI Investment, Motive Ventures, and Alstin Capital, bringing Pliant's total Series A investment to more than €50 million.

Following strong performance in 2023—during which Pliant more than doubled its yearly revenues—comes this extra funding. Pliant is now able to offer more financial goods and services in addition to issuing cards in 25 countries within the European Economic Area (EEA) because to the company's successful passport of its Electronic Money Institution (EMI) license.

"We're thrilled to welcome PayPal Ventures as a new shareholder, and we're looking forward to continuing to grow the company as we expand into new markets, starting with the UK," stated Malte Rau, CEO of Pliant.

Pliant has created multi-currency capabilities to enable its expansion, and it can now provide its services in 11 other currencies. Customers will be able to get bills in the same currency that they paid for the transaction, which is a helpful feature for businesses that process a lot of transactions in currencies other than euros.