Moss

Moss is a German company offering a range of business expense and payout management solutions for enterprises to minimize reporting and accounting errors while optimizing expenses through insights. The company offers three main solutions: 1) corporate cards, 2) reimbursement, and 3) invoice management. Moss also automates the accounting process through integrations with several platforms, including QuickBooks, Xero, Sage 50, and SAP Business One. It noted that over 65% of its expenses were automatically pre accounted, as of November 2022.  

Through its corporate cards, Moss offers physical and virtual corporate cards, which can be issued to all employees with spend controls. Moss cards can also be integrated with Apple Pay, thereby enabling end users to make payments through their Apple devices’ digital wallet solution. The company also offers non-card expense management solutions through its reimbursement platform. The platform automates the approval and payment process and also automatically calculates mileage allowances based on travel details input by the user. 

Moss’s invoice management solution manages business payouts from data extraction through to approval and payments. In May 2023, the company chose Deutsche bank to handle payment transactions for its EU customers, as a first step to offer payment services under its own license in the future.  

The company charges enterprises basic and usage fees based on the solutions adopted by users.

Key customers and partnerships

Moss primarily caters to SMBs in Germany, the UK, and the Netherlands, across several industries, including tech companies, ecommerce, agencies, and consultancies. As of July 2023, it had around 2,200 customers, including Grover, Flink, Moonfare, and Snocks. In January 2022, the company noted that it had issued over 20,000 credit cards and increased its customer base by fourfold since August 2021.

The company partnered with Klarna , in November 2022, to integrate its open banking solutions “ Klarna Kosma ” to improve the speed and accuracy of providing credit products to Moss’s customers. Moss also planned to leverage the partnership to expand its presence into new international markets. It also partnered with open banking payment infrastructure provider GoCardless , in July 2023, to offer direct debits for Moss customers in the UK, enabling them to automate balance repayments for their business expense cards. 

The company partnered with Marqeta in December 2022, to enable Moss’s customers to create and test corporate cards through Marqeta’s open API platform.

Funding and financials

Moss raised EUR 50 million (~USD 53 million) in debt funding from HSBC Innovation Banking UK, in September 2023, to expand its presence in the EU and the UK. At the time, the company also claimed that it had doubled its business in 2023.