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        Moss, a diversified business expense and payout management solutions provider, has received EUR 50 million (~USD 53 million) from HSBC Innovation Banking UK. This round brings Moss's total funds raised up to over USD 200 million and reportedly broadens its access to bank capital and strategic financing options.
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        The funding will be used to expand its presence in the EU and the UK.
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        Moss has reportedly more than doubled its business in 2023 and currently serves more than &ldquo;thousands&rdquo; of SMBs.
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    <a href="https://ffnews.com/newsarticle/funding/moss-raises-new-debt-financing-of-up-to-eur-50mn-from-hsbc-innovation-banking-uk-to-fuel-european-expansion/">
      FFNews
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Business Expense Management

DISRUPTOR_PRESENT

Moss, a business expense and payout management provider, has secured $53 million from HSBC Innovation Banking UK. This brings Moss's total funds raised to over $200 million and allows for increased access to strategic financing options and bank capital. The funding will be used to expand in the EU and the UK. Moss has experienced significant growth, doubling its business in 2023 and serving thousands of small and medium-sized businesses.

Moss raises EUR 50 million in debt financing

ANALYST_QUICK_TAKE

Flex, a business expense credit card management platform, has raised $120 million in funding. This includes $20 million in Series A funding led by Florida Funders, and $100 million in debt funding from Community Investment Management. Other investors such as Home Depot Ventures, MS&AD Ventures, and Companyon Ventures also participated in the equity funding round. The funds will be used for recruitment across product development, sales, and marketing teams, as well as to finance Flex's business expense credit card business. Flex offers business expense cards with features like receipt capture, custom spending limits, and category restrictions, and reportedly offers 0% interest for 60 days. This funding comes in a year where several other business expense and payout management solutions providers have also raised more than $100 million in funding.

Flex raises USD 120 million in mix of Series A and debt funding

Cloud-based payout management platform, Tipalti, has launched a localized solution for the European market and obtained an Electronic Money Institution (EMI) license from De Nederlandsche Bank (DNB). The company aims to expand in Europe, particularly Germany and the Nordics, and expects the continent to account for 20% of its new business by the end of 2024. Tipalti was initially present in Europe through its UK headquarters, and last year it opened a Benelux office in Amsterdam. This new offering and license should enable the company to expand further in the region by providing a wide range of payment solutions.

Tipalti expands offering in Europe; secures EMI license

PROMINENT_CATEGORY

Payhawk has introduced Payhawk Green, a feature that allows businesses to track the carbon emissions associated with purchases made using Payhawk cards. The platform also collects and manages ESG data for suppliers to enhance supply chain transparency. Payhawk Green integrates with Lune to quantify carbon emissions from various factors, such as product category, value, logistics, and flights. The goal is to assist businesses in meeting regulations such as the UK's Streamlined Energy and Carbon Reporting and the EU's Corporate Sustainability Reporting Directive. Payhawk plans to add more features to support customers' environmental, social, and governance initiatives in the future.

Payhawk launches ‘Payhawk Green’ with Lune

INCUMBENTS_PRESENT

Emburse has launched an AI-powered receipt scanning engine called Emburse Transcription Engine to automate expense management. The engine uses AI and OCR technology to extract detailed merchant and transaction information from receipts, validating expenses and automating reimbursements or credit card reconciliations. It has demonstrated up to 90% accuracy in extracting important fields from receipts. This move by Emburse is in line with a trend of companies using AI to enhance expense management, with other companies such as Aavenir and OpenEnvoy also introducing AI-powered solutions to improve their offerings in this area.

All Updates

Moss raises EUR 50 million in debt financing

Flex raises USD 120 million in mix of Series A and debt funding

Tipalti expands offering in Europe; secures EMI license

Payhawk launches ‘Payhawk Green’ with Lune

Emburse embeds AI to improve receipt scanning offering

Ramp raises USD 300 million in funding

OpenEnvoy announces advancements to its AI-powered AP automation platform

Mesh Payments launches Travel Management system to improve expense management for global enterprises

Basware to acquire Glantus for GBP 17.8 million

Aavenir launches GenAI solutions for contract management