Cards, Credit, and Control: Why we Invested in Pliant's Vision to Build the Future of B2B Payments

Every wave of transformation starts quietly. For Pliant, it began with a credit card.

Pliant is a fintech platform revolutionizing B2B payments across Europe and beyond with a comprehensive B2B payment solution. In Europe's fragmented fintech landscape, cards were never the problem. In fact, the corporate card market is a $250bn opportunity that is set to double by 2030. The problem is everything around cards: reconciliation headaches, disparate providers around the tech layer and the services layer, limited credit lines, slow onboarding, and rigid infrastructure that couldn't keep up with the pace of what global cross-border businesses require.

The aha moment: From fragmented flows to full stack control

Pliant is not just issuing credit cards but is also rewriting the playbook on how European businesses manage payments. Starting with a strong use case in travel (serving TMCs, OTAs and Tour operators), Pliant built a modular, API-first platform that doesn't just plug into workflows, it becomes the workflow.

The result? A single platform that offers card issuance, processing, FX, white-labeled UI, real-time APIs, spend management, and embedded credit lines. Think of it as the supercharged infrastructure layer for modern B2B finance.

We have known the Berlin Fintech veterans Malte Rau and Fabian Terner for years and have had the opportunity to see the company grow and continually exceed its targets at an astonishing pace. It gives us immense pleasure to be co-leading a $40m Series B alongside our friends at Illuminate Financial and existing investors, including PayPal Ventures and Motive Ventures. This milestone is not only about scaling beyond borders but also a testament to their disciplined growth stage.

Why now? Credit is the Infrastructure

The timing for Pliant couldn't be better outside of what's going on with macro trends in embedded finance. Businesses across travel, e-commerce, SaaS, and fintech are facing cost pressures in the form of margin compression that demand innovative solutions.

Our analysis, combined with the learnings from our portfolio, revealed that companies want:

• Credit that matches their cash cycle
• Data-rich transactions that reconcile instantly
• Flexible spend limits, approvals, and controls
• Multi-currency support, without the FX pain
• And yes, a platform that simply saves you time and money

Across these sectors, three things are true: speed, flexibility, and control over cash flow are no longer nice-to-haves; they're must-haves. Traditional banks have sadly struggled to address these needs. Furthermore, Pliant strategically timed its expansion along with the macro changes across Europe to also become the first digital card provider with a credit line across all 30 EEA countries. This moat, coupled with its vertical integration, creates a competitive advantage that is second-to-none.

Pliant's Vertical-First Playbook: More Than "Just a Card"

We could talk about product features, tailored financial solutions, or EMI licenses, but what truly stood out was this:

Pliant isn't building just a better card. They're becoming the operating system for B2B payments.

Unlike competitors relying on third-party processors, Pliant controls the entire chain: card issuance, transaction processing, compliance, and credit lines. This vertical integration enables three unique advantages:

An API-first platform for real-world complexity

At the heart of Pliant’s product is a flexible, API-first infrastructure that adapts to industries with intricate workflows and specialized payment needs - think travel, ecommerce, and SaaS. Whether it’s syncing with internal ERP systems or enabling white-labeled card issuance at scale, Pliant integrates seamlessly where others can’t.

Hybrid distribution model

Pliant's API-first approach lets platform partners embed white-labeled cards directly into their workflows. CFO stack vendors, for instance, issue branded cards to customers, earning interchange revenue while reducing their own working capital needs.

"We diversified our revenue base and increased overall customer satisfaction," says Christian Ritosek, CEO and Co-Founder of Candis.

Regulatory agility

As discussed above, Pliant's EMI license is passportable across 30 EEA countries and 11 currencies. This enables Pliant to bypass the "third-party dependency trap" that slows rivals. This infrastructure took years to build, but now serves as a moat.

Our bet: A European fintech success in the making

We believe Pliant will emerge as Europe's answer to Brex and Ramp but with the infrastructure DNA and a modular edge that travels further.

The real kicker? This isn't just a play on B2B credit card issuing. It's a bet on the future of spend management, credit infrastructure, embedded finance, and ultimately, the re-bundling of B2B payments. Speedinvest's own portfolio companies are lining up to explore integrations. That's when you know a company is moving toward something bigger.

We believe that Pliant is not just building a 10x better credit card product – it's building the future infrastructure of corporate payments. We've been following Malte, Fabian, and their team for some time, and we cannot think of another team that has consistently outperformed their ambitious plans year after year. We're proud to co-lead this Series B and partner with such an exceptional group on their journey to become a defining European fintech success story.

Ready to transform your business payments?

Contact us today to discuss how Pliant can power corporate payments in your business, or visit Pliant's website to learn more about their innovative solutions.