CleverCards, a Dublin-based financial startup, recently raised $8.6 million from investors including Pluxee, an employee benefits platform. The funding will allow CleverCards to enhance its payment infrastructure and increase its global reach.
This investment comes two years after the digital payments company was founded in 2019, and has enabled the company to intensify its growth and expand into global markets. CleverCards has rapidly established a competitive presence in the ever-changing digital payments industry.
The company’s platform, attached to customizable spending cards, allows businesses to exert more control over their business-related expenditures. This approach combats misuse of corporate credit cards while introducing an added layer of financial security.
The key feature of CleverCards’ service is its prepaid expense cards, designed for the exclusive use of certain employees. If any irregular transactions occur, they can be immediately stopped. These cards provide a secure method for businesses to control and monitor their spending.
A survey by a HR agency reflected the importance of such technology, highlighting suspicious employee expense submissions.
CleverCards’ financial control: Global expansion
This suggested a trust deficit and a need for better security and control systems. Additionally, it stressed the importance of high professional standards and ethical accounting when claiming expenses.
The CEO of CleverCards, Kealan Lennon, advocates for the platform as a solution to these issues. The system provides companies with the ability to control the access and use of these cards, reducing non-essential expenses and increasing transparency.
In an interview, Lennon outlined CleverCards’ main mission: to provide financial control. He explained that businesses can set parameters to suit their needs, giving them extensive control over how and when the cards are used. “The aim is to give companies a tool that increases accountability, while decreasing redundant expenditure,” Lennon said. He envisions CleverCards as an integral part of a company’s financial system.
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