Fintech
Global digital payments platform CleverCards announces an €8 million funding round
Smart cardsthe global digital payments platform, today announced a capital increase of 8 million euros, including an investment from Pluxee, a global player in employee benefits and engagement, and further investment from existing investors. The investment emerges from the current impasse in the capital markets and brings CleverCards’ total funding to date to €28 million.
Since its official market launch in 2023, the company has experienced substantial growth, directly engaging over 10,000 businesses with 350,000 users in 92 countries. CleverCards has already become one of the world’s leading digital payment platforms, enabling businesses and public sector organizations to self-set up digital Mastercards and send them to anyone, anywhere, anytime for instant download.
The Ireland-based company will use the capital raised to accelerate its expansion efforts and support the company’s ambitious growth plans to create the world’s most advanced digital payments platform.
As the company prepares for further expansion, it has also strengthened its Board of Directors with five new non-executive members, with extensive experience in successfully adapting payments technology globally.
Kealan Lennon, CEO and founder of CleverCards, commented:
“The growth we have experienced over the past two years has been tremendous and this round of investment is a demonstration of confidence in our trajectory. Pluxee’s investment represents a significant support to our vision and strategy as we advance our mission to transform digital payments globally. Their confidence in our potential to innovate and connect the digital economy across borders is inspiring.”
CleverCards’ B2B customers and cardholder base are driving the expansion, due to market needs left unmet by traditional financial institutions. The partnership with Pluxee aims to not only help CleverCards expand its employee benefits and social assistance products, but also position the company for broader opportunities.
A team from Interpath consultancy led by Liam Booth and James Gibson, along with a Wallace Corporate Counsel team led by Sean Wallace, assisted CleverCards with the fundraising.