Mooncard raises €37 million in equity and shows new ambitions in France and Europe for its expense management solution

In a tense economic context, the French fintech has successfully completed its Series C thanks to its solid technological and commercial foundations, client portfolio, and sustainable growth. This Series C marks the beginning of a new phase in the company’s development. Mooncard is determined to strengthen its leadership position to continue to support finance decision makers as their role becomes increasingly complex in France and internationally. With an essential strategic role supporting CEOs, CFOs are called on beyond the traditional scope of their role, focusing on implementing growth strategies and the strict control of costs to increase the company’s performance and competitiveness. To do so, they must, among other things, simplify internal processes and interact with all of an organisation’s departments.

How does Mooncard work?

It brings together a customisable payment method that is accepted everywhere and software that eliminates expense reports by automating their processing, and much more. The Mooncard solution is unique in its capacity to fully automate corporate spend and expense report processes. More than 6,000 public and private entities have chosen Mooncard, including more than 350 accounting firms that recommend the solution to their clients.

The Mooncard payment card is an ultra-secure Visa card that can be easily configured for each employee or user profile (e.g., with the possibility to set daily spend limits, activate spend categories such as restaurants, service stations, and taxis, or deactivate others such as cash withdrawals, foreign purchases, online spend, and more.) with an adaptable spend approval workflow (the number and type of managers who can approve the spend can be personalised). In the event of an exceptional request, the manager or administrator can automatically receive an SMS to react in real time.

The company can therefore entrust a payment card to each of its employees, retaining complete control of spend. All transactions, stored in a secure cloud server, can be consulted in real time. For employees, they benefit from no longer having to advance personal funds for their business or mobility expenses. Each time an expense is incurred with a Mooncard card (a lunch, taxi, plane ticket, computer, software subscription, etc.), the tamper-proof payment data is automatically and immediately prefilled and transformed into an accounting entry.

The employee simply needs to photograph the receipt with their smartphone for archiving, which has legal value with the relevant fiscal authorities. Thanks to the flexibility of its settings and the power of its software, Mooncard is the only business expense management solution capable of adapting to each customer’s needs, whatever the number of cards they have. Mooncard is the product of the expertise of a team of engineers and data analysts who have invented a smart payment card, leveraging multiple technological and accounting advances:

• An ultra-secure payment card accepted everywhere, in collaboration with European leader Visa
• The most comprehensive insurance on the market for a corporate payment card, thanks to partners AIG and Gras Savoye
• A unique partnership in France with Flying Blue (loyalty programme of the AIR FRANCE – KLM group) which offers companies and their employees the opportunity to earn Miles, for personal or professional use, by paying with their company card
• The most sophisticated card control settings: more than 60 use-case criteria can be activated or deactivated instantly in 1 click, for any Mooncard card in circulation
• The most advanced accounting processing algorithms in France, allowing automatic compatibility with all software on the market
• A SaaS solution secured in the cloud
• A unique user experience with an account opened in 5 minutes, a card available in 24 hours, and a smooth deployment within the company

“Mooncard is recognised as a productivity tool for companies, enabling them to manage costs as accurately as possible and optimise employee efficiency. Thanks to the strength of our business model, the loyalty and satisfaction of our customers and the controlled management of our growth, we have convinced new investors to join us, while maintaining the confidence of our existing investors. Thanks to this new round of financing, we will be able to build on the functionalities of our technology to meet the evolving needs of finance departments of all sizes of organisation, in the public and private sectors, in France and internationally”, explains Pierre-Yves Roizot, CEO of Mooncard.

“Portage is thrilled to support Mooncard on its next phase of expansion. With over 6,000 customers and quickly growing, Portage believes that Mooncard is the clear category leader in corporate debit cards and business expense management software. We believe Mooncard is well-equipped to serve the modern, evolving needs of finance teams and corporate employees across Europe.” explains Hélène Falchier, Partner at Portage