SOLDO/ Closes record 180mln usd Series C funding round led by Temasek

Milan, July 21, 2021 (L&F) - Soldo has closed a $180m oversubscribed Series C funding round, a European record for the spend management category. The fundraise was led by Temasek, a leading global investor headquartered in Singapore. The round includes new investors Sunley House Capital, Advent International’s crossover fund, Citi Ventures and continued backing from Accel, Battery Ventures, Dawn Capital, and Silicon Valley Bank for debt financing. Goldman Sachs acted as the exclusive placement agent to Soldo for the deal. This investment follows a 4x growth in spend volume across Soldo’s platform since series B, despite the backdrop of the challenging macro-economic environment.

Carlo Gualandri, Ceo and Founder of Soldo said: “We are delighted to welcome Temasek as the lead investor. With a track record of investing in category-leading fintechs, Temasek’s insights will be valuable to us as we scale our platform and offering. Managing business spend is costly and challenging, yet Soldo continues to demonstrate its value and ease to customers of every size and across every industry. It’s clear this category will see exponential growth as more businesses realise the benefits and Soldo is well placed to support them". 

Soldo closed $61 million in Series B funding in July 2019 and has since significantly increased the size of its business with more than 200 employees across offices in London, Dublin, Rome, and Milan. The latest funding round will see the company deepen its focus on new markets including Benelux, France and Germany where Soldo sees immense potential for hyper-growth.

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