Dublin-based fintech Soldo raises $180m in funding

Dublin-based fintech Soldo has raised $180 million (€153 million) in an oversubscribed funding round.

The company, which relocated its corporate headquarters to Ireland two years ago after securing a e-money licence from the Central Bank, has developed an automated platform that enables businesses to manage company-wide spending from one easy-to-manage solution.

Soldo's automation platform, which integrates with accounting software such as NetSuite and QuickBooks, is used by more than 26,000 customers across 30 countries. Customers include Mercedes-Benz and Gymshark.

The company, which employs about 200 people globally, was founded in London by Carlo Gualandri. It intends to use the new funding to ramp up entry into new markets and to increase headcount, including in Dublin, where it employs 12 people currently.

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The series C funding round was led by Temasek, a leading global investor headquartered in Singapore. It brings funding to date to more than $260 million with other backers including Accel, Battery Ventures and Silicon Valley Bank.

“With this investment we are now in a stronger position to deliver against our vision for international expansion and ambitious growth, developing our product offering through new payment types such as open banking, global payments, and to build out our partner ecosystem,” said Mr Gualandri, Soldo’s chief executive.