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April 29 2019

Soldo Smart Expense Platform Exceeds 60,000 users, achieving 500% growth in 2018

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Soldo, the London-based fintech offering payment and expense management services to businesses of all sizes is today celebrating a significant milestone in the company’s history, having passed 60,000 users. The company was granted a prestigious E-Money license from Ireland’s central bank last month, enabling Soldo to continue serving its customers based in the European Union in the event of Brexit. The coveted E-Money licence follows on from a highly successful 2018 where Soldo growth rocketed by 500%.
Soldo was created by entrepreneurs and banking experts who sought to eliminate the headache of expense management for organisations of any size and in any sector. Soldo’s simple and effective solution enables companies to continue using their legacy bank accounts, but provides a dedicated spending account that leverages best in class technology to pre-emptively control and streamline the expense management cycle through smart payment cards and intuitive user app that enables transaction data to be recorded at the point of purchase, and all data integrates seamlessly with business accounting software. In November 2018, Soldo launched a best in class integration with Xero and is the only expense app globally with an automatic bank feed into Xero.
Founder and CEO of Soldo, Carlo Gualandri, said, “I’m very proud of the team’s achievements over the past 12 months, but we have barely scratched the surface of the opportunity ahead of us. There are over 3 million businesses in our target markets, the UK and Italy, and over 5.5 million businesses in the next three largest markets in Europe. Most of these businesses are still using reimbursable expenses, spreadsheets and manual processes to manage the expense management cycle. The time saving and additional control over company spending and expense management that Soldo offers businesses of all sizes is  a true game-changer, and we will continue to accelerate growth and consolidate our position as market leaders in both the UK and Italy over the next 12 months.”
Lee Jaques, Finance Project Manager at Bruntwood, added: ‘Soldo has enabled us to close our old corporate credit card scheme, remove petty cash from our business and reduce the number of expense claims we process. This has reduced our administrative burden, replacing separate manual processes with a single system. We’ve now got a single source of rich data that we’re able to use to analyse expenditure and purchasing trends, as well as being able to proactively manage the activity of our cardholders.’
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