In a world where corporate expenses can spiral out of control, CleverCards, a Dublin-based startup, is leading the charge in revolutionizing how companies manage their employee expenses. With the rise of technology, CleverCards has developed a digital platform linked to configurable expense cards that gives companies the power to control and monitor how their employees use corporate payment cards. This innovative approach comes at a time when a global survey of CFOs revealed bizarre expense report requests such as doggie day spas, taxidermy services, and even dance classes. These strange requests highlight the challenges many companies face in trusting their employees’ judgment when it comes to expenses.
CEO Kealan Lennon emphasizes the importance of empowering businesses with finance control through CleverCards. Unlike traditional corporate credit cards that can be used for any purchase globally, CleverCards offers prepaid cards that can be customized to specific employees and purposes. By blocking certain transactions deemed inappropriate, CleverCards ensures that businesses have the ultimate control over how their funds are being spent. Lennon’s vision for a configurable payments platform has set CleverCards apart in the industry, allowing customers to tailor their financial controls with just the press of a button.
Despite a challenging market for financial technology investments, CleverCards recently raised 8 million euros in funding from investors, showcasing the confidence in its innovative approach. The investment round was led by strategic investor Pluxee, a dynamic player in the employee vouchers and benefits sector. This new funding brings CleverCards’ total raised capital to over 28 million euros, solidifying its position as a key player in the fintech industry.
Since its founding in 2019, CleverCards has attracted over 10,000 businesses as clients, including industry giants like eBay, PaddyPower, Betfair, Accenture, Microsoft, and Apple. Moreover, CleverCards has extended its reach to public sector organizations, partnering with the U.K. government to facilitate social welfare payments through smart meter utilities. By deploying artificial intelligence for identity verification checks, CleverCards has not only streamlined payment processes but also mitigated fraud risks for both businesses and individuals.
With the influx of fresh capital, CleverCards plans to expand its business operations, scale its product offerings, and explore new opportunities in the financial technology landscape. Additionally, the company has appointed five seasoned non-executive directors with expertise in payments technology to steer CleverCards towards continued growth and success. This strategic move underlines CleverCards’ commitment to innovation and excellence in the ever-evolving fintech industry.
CleverCards represents a new era in financial technology, where innovation meets financial control to empower businesses and individuals alike. By redefining how expenses are managed and monitored, CleverCards is charting a path towards a more efficient and secure financial future for companies worldwide. As the industry continues to evolve, CleverCards stands out as a beacon of innovation and reliability in the fast-paced world of fintech.