Mooncard, a business expense card management platform, raised EUR 37 million (~USD 41 million) co-led by Orange Ventures and Portage, with participation from Aglaé Ventures, Blackfin Capital Partners, Partech Partners, and RAISE Ventures. This round brings Mooncard’s total funding to around USD 76 million. 

The funds will be used in developing new solutions and expanding its operations to six European markets (Germany, Austria, Belgium, Spain, Italy, and the Netherlands). 

Based in France, Mooncard offers a business expense card issuing platform that enables companies to issue physical and virtual Visa cards to their employees with customized conditions and limits (with the ability to approve ad-hoc expenses in real-time). Users can make payments through the cards and must then take a photo of the receipt, add relevant details, and submit the expenses. The platform automates spend controls, approvals, and accounting while also generating expense reports and insights.

Analyst QuickTake: Earlier this year, Mooncard’s German counterpart, Pliant, also raised a similar-sized funding round (EUR 26 million), albeit with Series A funding. Similar to Mooncard, Pliant earmarked the newly raised funds to invest in its products.