STOCKHOLM, May 30 (Reuters) - Copenhagen-based financial technology startup Pleo said on Wednesday it had raised $16 million in a series A funding round led by Swedish investment firm Kinnevik, to add staff and expand in Europe.
* Existing investors Creandum, Founders, Seedcamp and Vækstfonden also participated in the financing round
* The funding will be used to grow Pleo’s headcount from 50 to 200 by the end of 2019 and to support its European expansion
* Pleo provides smart company cards paired with software that automates expense reports and simplifies company spending
* Currently available in the UK and Denmark, Pleo has 1,500 customers, with 10 new businesses joining each day
* Including the new funding, Pleo has raised $23 million in total (Reporting by Stockholm Newsroom)