" class="no-js "lang="en-US"> Mooncard raises £17 M to relieve employees and managers
Sunday, February 05, 2023
Saltedge Report

Mooncard raises £17 M to relieve employees and managers of their professional mental load

With a solid infrastructure and foundation, Mooncard launches a new offensive in its development

Mooncard will accelerate its large-scale development in several European countries, with the first five countries in the next ten months, alongside developing its national footprint.

Mooncard will consequently contribute to France’s development, attractiveness and economic influence: a hundred talents will be hired by 2022.

Mooncard is also working to maintain its technological lead in payment and accounting control by enriching its services and digital functionalities to provide additional relief to businesses and their employees.

This fundraising takes place now that Mooncard has built a solid, viable and sustainable business model, enjoying steady, sustainable and profitable growth, with a customer retention rate that is a source of great pride for the teams.

Relieving the professional mental load of hundreds of thousands of companies and several million French and European citizens

Expense accounts have an estimated daily impact on nearly 650,000 companies in France, and nearly 2.5 million employees regularly submit expense accounts for their company. They still have to go through the same procedures (advancing money, keeping paper receipts, entering data, re-entering, reprocessing, and checking several times before getting reimbursed), which has become one of the primary daily annoyances for companies.

The smart payment card is the only tool capable of completely eliminating this inconvenience by removing a double burden:

=> Administrative burden. A single expense account involves:

– 5 to 10 successive tasks (entry, filing, verification, reprocessing, cross-checking, transfer, accounting)

– 2 to 5 different documents (receipt, form, summary table)

– 2 to 6 people (employees, office manager, CFO, CEO, chartered accountant).

=> Mental load: For employees, this includes the frustration of having to spend personal money to do their job, the fear of losing receipts or never being reimbursed, the feeling of being constantly monitored and placed under suspicion, and the necessity of having to stop work to fill in forms that may not be understandable. For companies, there is the arduousness of heavy and unrewarding tasks; the fear of making an error in data entry or reporting; and the anxiety of letting an attempt at fraud go unnoticed, prompting suspicion of all employees by default.

How does Mooncard work? The debit card that eliminates expense accounts by automating their processing and much more.

Mooncard is the only corporate card in France and even in Europe to work with both small companies and multinationals, as well as public entities, thanks to a solution enabling the management of several thousand cards for a single client. Mooncard is also the only company to fully automate the processing of expenses and expense accounts. More than 3,000 companies in France have opted for Mooncard (Cora, Odigo, Norauto, Zadig &Voltaire, Groupe Poisson, Vinci, Indigo), and over 350 accounting firms recommend this solution. Finally, companies are not the only ones trusting Mooncard, over 500 public entities have also opted for this solution as part of a major contract with the French State.

The Mooncard card is ultra-secure and can be configured in a click (e.g., a €20 or €200/day limit, activated for restaurants, petrol stations and taxis, deactivated for withdrawals, international, internet payments and weekends).

The company can assign one card to each of its employees without fear. All transactions are stored in a secure cloud and can be consulted in real-time.

When an employee pays with their Mooncard card (for lunch, a taxi, a plane ticket, a computer, a software subscription), all the information about the payment is automatically and immediately pre-filled and processed in the accounts. All the employee has to do is photograph the receipt with their smartphone, which is archived with a legal value for the French authorities.

Mooncard is a team of engineers and data analysts who have invented a smart payment card based on several technological and accounting advances

–          An ultra-secure payment card, in collaboration with Europe’s leading Visa;

–          The most comprehensive insurance on the market for a corporate payment card, thanks to an exclusive collaboration with Allianz and Gras Savoye;

–          An exclusive partnership on the French market with Flying Blue (the AIR FRANCE – KLM Group’s frequent flyer programme) enabling companies and their employees to earn Miles, for personal or professional use, by paying with their company card for those who so desire;

–          The most sophisticated configuration: more than 60 usage limitation criteria can be activated or deactivated in one click and in real-time, for any Mooncard card in circulation;

–          The most advanced accounting treatment algorithms in France, enabling automatic interfacing with all market software (Sage, Cegid);

–          A Saas mode solution in a secure cloud;

–          A brand-new user experience, with an account, opened in just 5 minutes, a card available in 24 hours, and flexible deployment within the company.

Mooncard also offers two complementary solutions developed after its first fundraising:

⇨ Mooncard X (March 2020): access to a personal assistant 24/7, a dedicated travel agency, privileged status with 60,000 service providers or merchants (rental companies, airport lounges, florists), and travel or computer insurance unmatched on the market.

⇨ Mooncard Mobility (Summer 2020): France’s first fuel card for business travel, giving access to 100% of petrol stations, car parks, toll booths and electric charging points! With, of course, all the advantages of Mooncard.

“Since we started, we have focused on fighting mental load in the workplace. Executives and company directors have enough to worry about on a daily basis without letting their minds be paralysed by an administrative problem such as expense accounts. Our ambition: to rid all employees, accountants and managers, in the public and private sectors, in small, medium and large companies, of this load. As a result, our goal is to continue to expand in the French market, but now also internationally, and to offer new intelligent digital solutions. Software and applications released in the last few years have all attempted to digitise or reduce expense accounts management, but not to eliminate it. The best solution is to automate the entire process and physically eliminate the expense account. Mooncard is the only one to do this. The best expense account is a dead expense account, one which no longer exists,” explains Tristan Leteurtreco-founder and CEO of Mooncard.

We are very pleased to co-lead Mooncard’s Series B, a strong company that saves valuable time for employees and finance departments of SME and SMB customersThere is no longer any need to spend hours preparing expense accounts,” says Julien Creuzé, Partner of BlackFin Capital Partners “Thanks to an agreement with Flying Blue, Mooncard is the only fintech I know which allows its users to earn Miles after each expenditure! ”

“The founders of Mooncard convinced us to invest due to their dual expertise in transactions (payment and treasury) and software (automation of accounting entries and interoperability). This expertise is unique in this sector, and that’s why they are as comfortable working with an SME as with an international group or a public administration”, says Jean-Marc Patouillaud, Managing Partner – Partech.

“Mooncard offers the most effective solution on the market as a result of its high-level technical team and its in-depth understanding of accounting issues.  The partnership with Flying Blue was a decisive step in the development of its product, which is now attracting start-ups, major accounts and public services. We are pleased to continue supporting Mooncard and are delighted with the prospects for the company in France and Europe.», says Antoine Loison, General Partner – Aglaé Ventures.

“Mooncard is an innovative company that has tackled a market in need of reinvention. This team has been doing it brilliantly and intelligently for nearly three years and is now about to conquer new territories and provide valuable assistance to employees and managers. Their solution provides considerable productivity gains for companies and the prospects for development have grown considerably since we started working with themWe are very pleased to continue providing them with the benefit of our strategic expertise to help them achieve their ambitions,” says François Collet, Partner de RAISE Ventures.

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