Pliant raises $80M to power banks' spend management tools
What's the deal? Pliant, which helps banks and software companies offer spend management tools, has raised $80 million in Series C funding, chief executive officer Malte Rau told Axios.
What's the endgame? Pliant provides the infrastructure behind business cards and expense management, letting banks and software firms embed those tools into their own products.
Why now? Banks want to add expense tools and cards to keep business customers from switching to fintechs.
The signal: At $80 million, the Series C ranks in the 34th percentile for deal size — a solid but mid-sized round. It reflects steady investor appetite for the infrastructure layer underpinning corporate spend, where incumbents and fintechs compete for the same business clients.
Read more: Axios
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