Pleo Celebrates 10 Years with 37% Revenue Surge and Major SaaS Growth

Pleo, a leading financial platform for businesses, announces another year of remarkable growth, achieving 37% revenue growth in 2024, underpinned by 56% SaaS revenue growth.

As Pleo marks its 10 year anniversary, the company is proud to reflect on its incredible journey from a simple expense management tool to one of Europe’s leading holistic business spend platforms. Since it was founded, Pleo has been at the forefront of empowering businesses to manage their finances more efficiently and effectively, and this 10 year milestone underscores the company’s commitment to continuous innovation and growth.

Celebrating 10 years of financial innovation

Over the past decade, Pleo has dramatically expanded its suite of services, transforming how businesses manage their cash flow and finances, and stress-test their financial health to ensure they have stability. Pleo has evolved into a comprehensive solution encompassing everything from real-time financial tracking to advanced treasury tools.

Key moments in Pleo’s evolution came with the launch of its Accounts Payable solution and the recent €40m debt financing deal with HSBC Innovation Banking. This enabled Pleo to introduce overdraft facilities, giving businesses greater flexibility to manage their cash flow. Building on this, Pleo is now making its mark in the treasury space with the upcoming launch of a complete cash management solution. This new suite, set to roll out throughout 2025, will feature a powerful financial dashboard, multi-currency accounts, foreign exchange (FX) trades, and a host of automated cash management tools, enabling businesses to optimise their financial strategies like never before.

A leadership team built for the future

To coincide with Pleo’s 10th anniversary, the company is pleased to announce the appointment of Martin Cerullo as its Chief People Officer (CPeO) earlier this year. Cerullo brings a wealth of experience from his career spanning over 20+ years across Europe and Asia. Prior to Pleo he was the CPeO at the investor-backed European food e-commerce company Oda. As Pleo’s CPeO, Cerullo will be focused on partnering with the executive team to ensure Pleo has the right structure and capabilities, with an engaged employee base, to meet its future ambitions. 

Cerullo joins other recent key new hires at Pleo, including Pri Nagashima, VP of Data, Analytics and AI, and Tine Boye, General Legal Council. Together, the team will focus on revolutionising the Pleo experience for individuals in-house and for its customer base.

A new era of financial empowerment

Pleo has seen impressive growth over the last 10 years across all its markets. As Pleo looks ahead to the next decade, the company remains focused on empowering businesses of all sizes to simplify and optimise their spending. In 2024 Pleo’s cash balance remained very strong and solid progress was made in improving operating cashflow, a journey that will continue in the coming years, while continuing to make important investments in growth initiatives. With its robust suite of tools catering to every aspect of business spend, Pleo is poised to continue driving financial innovation and success for years to come.

Jeppe Rindom, Founder and CEO of Pleo, comments: “Reflecting on the last 10 years has been a great opportunity to see how much Pleo has grown and changed. This progress has been affirmed by our strong business results for FY24 with Pleo now proudly serving 40,000 customers across Europe.  

“In 2025, we’re doubling down with our commitment to be the business spend solution which removes friction between finance and the rest of business. Macro-economics are challenging businesses across the globe, meaning financial stability, oversight and control are more important than ever. At Pleo we’re continuing to empower our customers to stay in control of their finances no matter the headwinds they may face.”

Andreas Bernström, Chairman Pleo Group: “As one of the lead investors of Pleo, we’re proud to see its continued growth. This is a result of the company’s commitment to delivering new products and developments to be the one-stop shop for business spend management. The last 10 years have seen Pleo expand its offering greatly, and we can expect this to continue in 2025 as it expands its product offering.”