Pleo is a fundamentally new way to manage company expenses. Offering instant and on-demand Prepaid Mastercard® virtual cards for online purchases and plastic cards for in-store purchases, Pleo enables employees to buy the things they need for work, all while keeping the companies in full control of all spending. With the help of breakthrough technology, Pleo reduces the administrative complexity, eliminates expense reports and simplifies bookkeeping.
Pleo was created for dynamic businesses with decentralized spending cultures, including the sharing of credit cards, collections of receipts, expense reports and reimbursements, causing confusion and complexity for everyone in the workplace.
Prepaid Mastercard cards are accepted by more than 30 million merchants worldwide. The plastic Pleo cards can be used for in-store payments, contactless transactions and have a chip and pin facility. Meanwhile the virtual Pleo cards can be used to make any work related online purchases. Prepaid cards can be used to purchase goods in the same way as a debit or credit card but you can only make transactions when there is money in your account.
Pleo cards are issued by one of Europe’s largest issuers of Prepaid Mastercard(s), IDT Financial Services Limited pursuant to a license from Mastercard International Incorporated. IDT Financial Services Limited is a regulated bank, licensed by the Financial Services Commission, Gibraltar. Registered Office: 57-63 Line Wall Road, Gibraltar. Registered No. 95716.
Pleo was founded in early 2015 by fintech veterans Jeppe Rindom and Niccolo Perra, who met while working at the Danish startup success, Tradeshift. The Pleo team is based in Copenhagen and has an office in London. The company is financed by Founders A/S - a Scandinavian startup studio backed by Kirkbi A/S (majority owner of the toy company, LEGO A/S), Anders Holck Povlsen (owner of Bestseller A/S with +5,000 fashion retail stores) and the Oticon Foundation (majority owner of the hearing aid company, William Demant A/S).
The virtual and plastic Pleo cards are Prepaid Mastercard cards. To use the cards, your company needs to have money in the Pleo account. An easy way of providing funds to Pleo is by use of a bank wire. After a few business days your funds will be received into a ring fenced account (which means that neither we or anyone else can access your money) with NatWest (National Westminster Bank Plc) owned by The Royal Bank of Scotland Group (RBS). The UK Government is the majority owner of RBS and NatWest has a good credit rating (BBB+, as of August 2016).
No, the founding idea behind Pleo is to get rid of the expense reports. When using your Pleo card, you will instantly receive notification on your mobile app. Pleo works hard to make the next steps of capturing the receipt and categorizing the expense as smooth and automatic as possible. As a Manager, you can monitor all transactions in real time and even define your own notification settings to alert you when specific purchases are made. All transactions can be directly pushed or exported to most accounting systems.
When loading your Pleo account, your money will be held in a ring-fenced bank account on trust with NatWest (National Westminster Bank Plc) owned by The Royal Bank of Scotland Group (RBS). The UK Government is the majority owner of RBS and NatWest has a good credit rating (BBB+, as of March 2016).
We take security very seriously. Our cardholder data is protected by bank-level data encryption and is stored in a PCIDSS level-1 compliant data centre in the EEA. All data passed between our servers and third parties is 2048-bit SSL encrypted. Card transactions data is transmitted via VPN-tunnels to a certified PCIDSS level-1 processor.
With Pleo, all purchases are tracked in real-time, so if you notice something suspicious, you can block the cards immediately from the Pleo web app. You are also covered by Mastercard Zero Liability Policy - for more information, visit: http://www.mastercard.co.uk/zero-liability.html
Why our customers love Pleo
"Since we started using Pleo, our employees feel more productive as they do not have to deal with expense reports anymore. Meanwhile, It also gives great insight into all company spending."
Dennis Green-Lieber, CEO & Co-Founder
"Using Pleo has removed the hassle of following up on missing receipts. In itself Pleo is a timesaver, but the real benefit for us is that it removes a daily friction and allows us to do bookkeeping at a much higher frequency."
Rytis Jakubauskas, Head of Business & Operations
"The best thing about Pleo is definitely how easy it is to issue cards to my employees. This means we are not sharing cards around the office anymore, which not only saves a lot of time, but is also a lot more secure."
Rasmus Severinsen, CEO & Co-Founder
"We are extremely satisified with Pleo and have been using the system extensively since the launch. It has helped a lot to simplify the process of employee purchasing, but also to simplify accounting and improve transparency."
Kræn Hansen, Partner, advisor & developer
"My team members can now make work related purchases efficiently and on their own. We are instantly reminded to snap a photo of the receipts, which makes our daily work easier. Pleo is a good solution for our distributed workforce."
Frants E. Moraitis, CEO & Co-Founder
Sign your company up for early access
Pleo is currently available for a limited number of invited companies.
Sign up today to reserve your spot.
Currently available only in Denmark and UK, expanding to the rest of EU soon.
The Pleo Card is issued by IDT Financial Services Limited pursuant to a license from Mastercard International Incorporated. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated. IDT Financial Services Limited is a regulated bank, licensed by the Financial Services Commission, Gibraltar. Registered Office: 57-63 Line Wall Road, Gibraltar. Registered No. 95716. All communications should be sent to Pagobox ApS, Skelbækgade 2-4, 6th floor, 1717 Copenhagen V, Denmark