Berlin-based fintech Pliant has raised $80 million from investors in a new funding round—twice the amount it secured last year. The round was led by Spanish growth investor Seaya Nova and Austrian investor Speedinvest, which has backed the company for some time.
Other participants include Illuminate Financial, Motive Partners and Molten Ventures. Citi Ventures, the US bank’s corporate investment arm, also joined the round.
Citi’s involvement may have a strategic dimension beyond financial returns. Both Citi and Pliant are active in the travel business and sometimes compete in the market, according to the report. Sources close to the bank said the fintech has recently prevailed more often in that competition.
Carsten Maschmeyer’s stake in Pliant will be diluted by the funding round. The TV investor backed the company early through his Alstin fund but did not contribute new capital this time.
Sources: Handelsblatt.