Pleo and TravelPerk team up for travel expense automation

European fintech unicorn Pleo and Barcelona-based business travel platform provider TravelPerk have teamed up to simplify the travel expense experience for Pleo’s users.

TravelPerk integrates with Pleo

“The newly launched API integration, combining the power of TravelPerk’s global travel management platform and Pleo’s business spend solution, enables end-to-end efficiency,” the two companies say.

“Business travellers are empowered to book autonomously ensuring they’ll stay within budget (using policies and approvals) and using a Pleo card means they won’t have to pay out of pocket or complete expense claims. Receipts then automatically sync directly into the Pleo system, ready to be categorised and tagged.”

Also, TravelPerk says it offers a VAT friendly inventory and VAT compliant invoices, which means businesses can reclaim up to 20% VAT.

Stuart Wynn, Pleo’s head of strategy and partnerships, describes the partnership as “an exciting moment in Pleo’s mission to give businesses greater power to manage their spend in a smart and efficient way”.

Mutual client Luno, an international cryptocurrency investment firm, is using the service and finds it valuable.

Luno explains: “Without that combination, we would have had a whole lot of people travelling, spending out of policy and waiting for the expenses to be reimbursed, which meant we never had full oversight into travel costs each month.

Pleo serves 25,000+ businesses

“With this new integration, Pleo automatically matches receipts from all transactions on TravelPerk. No more manual drag and drop!”

Founded in 2015, TravelPerk claims well-known fintech brands like Wise, Revolut and Monzo on its user list.

Also founded in 2015, Denmark-based Pleo offers a business spending solution. It is the brainchild of fintech veterans and serial entrepreneurs Jeppe Rindom and Niccolo Perra.

Today, Pleo employs 800 people, with seven European office locations (London, Stockholm, Berlin, Madrid, Paris, Lisbon and Copenhagen), and serves over 25,000 companies.

At the end of last year, it raised $350 million in its Series C funding round, nearly tripling its valuation to $4.7 billion.