Berlin-based fintech Moss, an AI-powered spend management platform for mid-sized businesses, has raised €35 million in Series C funding. The round brings Moss' total capital raised to over €200 million and values the company at €1 billion.
- Founded in 2019 by Ante Spittler, Anton Rummel, Ferdinand Meyer, and Stephen Haslebacher, Moss provides corporate cards, invoice management, expense automation, and AI-powered pre-accounting.
- The company integrates with more than 50 accounting and ERP systems, including DATEV, Xero, and NetSuite.
- Moss' AI prepares financial work while leaving consequential actions and final approvals to finance teams. It also flags uncertain cases and provides an audit trail covering ledger accounts, VAT treatments, and cost centers. The company says this approach responds to finance teams' preference for controlled rather than fully autonomous AI.
- Its platform is used by more than 5,000 businesses, including Flink, Gusto, and Auto1, across Germany, the Netherlands, the UK, and other European markets.
Details of the deal
- The Series S round was led by fintech investors Portage, with participation from existing investor Cherry Ventures.
- Moss will use the funding to develop its Finance AI capabilities across spend management, accounts receivable, journal entries, and month-end closing.
