Interpath Advisory, the independent financial advisory firm, has advised Irish-headquartered CleverCards on its €8m funding round that will accelerate its growth ambitions.
The global digital payments platform has raised €8m of capital in a fundraise led by Pluxee (Euronext: PLX), a global player in employee benefits and engagement business, and supported by existing investors. The funding round brings total capital raised to date to €28m.
Since its official market launch in 2023, the company has onboarded more than 10,000 businesses and 350,000 users across 92 countries, making it one of the world’s leading digital payments platforms. CleverCards enables businesses and public sector organisations configure digital Mastercard’s that can be used by anyone, anywhere, at any time, and can be downloaded instantly.
The fundraising will provide the business with further capital to accelerate its expansion plans as it aims to create ‘the world’s most advanced digital payments platform’. In particular, the strategic partnership with Pluxee delivers access to their extensive network, industry experience and resources. The company has also welcomed five-new non-executive members to its Board of Directors.
A team from Interpath, led by Liam Booth and James Gibson, provided lead corporate finance advisory to CleverCards.
Kealan Lennon, CEO and founder of CleverCards, said: “The growth we have experienced in the past two years has been formidable, and this investment round is a show of confidence in our trajectory. Pluxee’s investment is a significant endorsement of our vision and strategy as we push forward in our mission to transform digital payments globally. Their belief in our potential to innovate and connect the digital economy across borders is energising. Interpath’s guidance through the fundraising process was instrumental in securing the capital and investment partners that will drive us forward.”
Commenting on the transaction, Liam Booth, Managing Director and Head of Deals at Interpath Advisory in Ireland, said: “CleverCards has shown the depth of the Irish tech industry and its ability to attract both domestic and international investment. This fundraising adds further financial firepower to fuel an impressive growth story that has propelled the CleverCards platform onto the global stage and turned it into a leading player in the payments industry. It also broadens the investor base and adds a partner that is well-aligned and can catalyse its expansion globally. Clearly there is substantial appetite in the market to back organisations in Ireland that have compelling propositions, ambition, and growth potential. We look forward to continuing our support for Kealan and the team as the continue that journey.”
