Pleo, a fintech company, has launched a free plan in the United Kingdom, Ireland, Denmark, and Sweden.
Fintech expansion Pleo, a firm that provides a streamlined company spending solution, smart company cards, and bill payment processing, has announced a new business model that includes a no-fee service for customers in the United Kingdom, Ireland, Sweden, and Denmark. Pleo’s Free plan, which is currently accessible, allows companies to construct a customized catalog of their services for free, with up to five customers per organization.
Pleo is a joint venture between J.P. Morgan, Mastercard, and Enfuce, a payment processing service.
Pleo is bolstering its presence in the SME, agency, and startup sectors with the launch of the Free plan. The approach, which aligns with Pleo’s tagline, “Power to Your People,” would assist startups and small enterprises, in particular, in regaining control of their cash flow and expenditure after a difficult two years due to the Coronavirus outbreak.
READ ALSO: The Privateum Cooperative Business Model: Providing Anonymity to Crypto Users while Surveilling Regulators
Pleo’s CEO and Co-Founder, Jeppe Rindom, says: “Our goal has always been the same: to change the way businesses manage their expenditure by creating a solution that not only solves problems but also makes employees feel valued and motivated at work. As a result, income growth has never been a priority for us. As a result, we’re ecstatic to be in a position, as one of the leading firms in the B2B spend management sector, to realign our pricing approach and deliver Pleo to more organizations of all sizes.
“There’s a reason why our product is trusted by over 20,000 businesses every day. We hope to attain one million happy consumers by the end of 2025 if we continue on our current path.” Pleo’s new pricing plan, which was tested in Germany earlier this year with remarkable success, comes at a time when the company is seeing rapid expansion. Pleo has expanded by 150 percent in the last year, and the business announced a $150 million capital raising in July, boosting its unicorn valuation to $1.7 billion. Pleo is increasing and expanding its market position in the fast developing market for expenditure management solutions.
Pleo board member Keri Gohman, a partner at Bain Capital Ventures, says: “Pleo is well-versed on the future of work, as well as the need to foster an employee-centric culture in which teams feel empowered. With the Free plan, they’re allowing thousands more businesses to get started right away, regardless of their budget. News from Brinkwire in a nutshell.