Spend management platforms in Europe

AirPlus International (Neu-Isenburg, Germany) - B2B corporate travel payments: central lodged cards, corporate credit cards and virtual cards with accounting and analysis for business travel programmes. Sold by Lufthansa Group to SEB Kort (SEB Group, Sweden) for approx. EUR 450m, closed 31 Jul 2024 - ownership flag (EU). EEA payment entity in Belgium (PI).

Billhop (Stockholm, Sweden) - B2B payments by card: companies pay any supplier invoice with a credit card even where the vendor does not accept cards, unlocking working capital and card float for procurement; EUR 10.5m Series A for European expansion. Payment institution (Swedish FSA).

Cardlay (Denmark) - spend-management software with an own partner-issued virtual card programme; an expense add-on for bank card programmes.

Circula (Berlin, Germany; founded 2017) - AI expense management with a digital Visa corporate card; 2,800+ customers (Aston Martin, DATEV) and 150k+ employees. Series A extension EUR 15m (2025). SaaS.

Coverflex (Braga/Lisbon, Portugal) - flexible compensation and employee-benefits platform: meal allowance, insurance, fringe benefits, budgets and perks in one app with a payment card; 13,000+ companies across four markets; EUR 15m Series A (2023). The Iberian counterpart to Epassi/Swile.

Epassi (Helsinki, Finland; founded 2007) - Nordic market leader in mobile payments for employee benefits: meals, transport, wellbeing, healthcare and culture paid via the Epassi app; 1.5m+ users and 35,000+ merchant sites across Finland and Sweden. Payment institution rail: Epassi Clearing Oy (FIN-FSA).

Eurowag (W.A.G. payment solutions, Prague, Czechia; LSE-listed 2021, ~EUR 200m raised) - fleet and mobility payments for road transport: fuel/energy cards at ~15,500 acceptance points in 30 European countries plus tolls in 23. E-money via W.A.G. Issuing Services (Czech National Bank). Register-sourced: Payment institution (PI), Czech National Bank, ref 05021910; passported to 24 EEA states.

Fidoo (Prague, Czechia) - prepaid corporate Mastercard cards plus expense-management app for cashless, paperless business spend (receipt capture, approvals, billing); Mastercard issuer in partnership with Komercni banka, processing via Thredd. Regulated entity: Direct Fidoo Payments s.r.o., Payment Institution at the Czech National Bank. Register-sourced: Payment institution (PI), Czech National Bank, ref 02690446; passported to 30 EEA states.

Findity (Sweden) - expense-management software, white-labelled for banks and partners. Pure software (no card licence).

Finom (Amsterdam, Netherlands; founded 2019) - all-in-one SME financial platform: local IBANs, Visa debit, e-invoicing and accounting, plus SME lending (NL). EMI licence, DNB (2021); active in NL/FR/DE/IT/ES, 125k+ customers; Series C EUR 115m (2025).

Juni (Juni Technology AB, Gothenburg, Sweden) - e-commerce spend management and banking for online businesses: cards, accounts, expense, accounting and global payments. EMI, Swedish FSA; USD 282m+ raised.

Mazepay (Aarhus, Denmark; founded 2018) - B2B long-tail spend management for enterprises (single-use cards, supplier payments, Mastercard ICCP); holds a pan-European payment licence from the Danish FSA. Register-sourced: Payment institution (PI), Danish Financial Supervisory Authority, ref 39772388; passported to 30 EEA states.

Medius (Linköping, Sweden; founded 2001) - AP automation and source-to-pay / business spend management; ~4,000 customers, USD 160bn+ transactions a year, a Leader in the 2026 Gartner MQ for AP. Software vendor.

Mobilexpense (Belgium) - enterprise expense-management software (Declaree brand) with OCR/AI and a configurable policy engine. Pure software.

Mooncard (Moongroup SAS, Paris; since 2016) - corporate cards and expense management. ACPR payment-services agent (no. 89380), agent of the EMI Treezor (CIB 16798).

Moss (Germany) - corporate cards and spend management; cards issued via Transact Payments Malta and a German partner bank, with Deutsche Bank and Airwallex partnerships. Uses partner rails.

Payhawk (Bulgaria + UK) - AI-native spend management. Own EMI: Bank of Lithuania (EEA) + UK FCA; also distributes e-money as agent of Paynetics (BG). J.P. Morgan partner.

Own EMI: Pleo Financial Services ApS (Danish FSA ref 40506); spend + expense cards across 16 EU countries.

Pliant (Germany) - corporate credit cards as a service, issued on its own regulatory setup. EMI and Visa Principal Member (EU).

Qonto SA - payment institution, ACPR n° 16958; SME business banking (accounts, cards, invoicing, expense). 600k+ clients across 8 EU countries; in-house card processor. Filed for FR banking licence (Jul 2025) to add lending. Profitable since 2023.

Rydoo (Belgium) - expense-management software for multinational finance teams, with global compliance. Pure software (no card licence).

Spendesk (France) - spend management with virtual and physical cards. Own Payment Institution: Spendesk Financial Services (ACPR reg 17518). PI, not EMI.

Swile (Montpellier/Paris, France) - employee-benefits payment card and app (digitised meal vouchers, gifts, mobility) processing ~EUR 3bn a year; USD 200m Series D (SoftBank, 2021); card stack built on Treezor and Enfuce. Swile Payment SAS is an e-money institution authorised by the ACPR (ref 92174). Register-sourced: E-money institution (EMI), Prudential Supervisory and Resolution Authority, ref 898001672; passported to 1 EEA states.

Yokoy (Zurich, Switzerland; since 2019) - AI spend, expense and invoice management with card payments (cards run on Visa); acquired by TravelPerk (ES) in 2025. Site now redirects to perk.com (TravelPerk).

Own EMI: Soldo Financial Services Ltd (FCA AEMI since 2018) + Soldo Financial Services Ireland (EEA). Prepaid corporate cards + spend control.