Pleo Secures €40m Debt Financing from HSBC

Now that Pleo has partnered with HSBC Innovation Banking, it will be able to alleviate this pain point for clients and boost its credibility in the markets it operates – fuelling additional growth to already impressive growth figures.

Amit Kahana, VP of Credit and Treasury at Pleo, says: “We are delighted to announce our partnership with HSBC Innovation Banking. Starting at €40m, the debt financing available to us can extend based on future requirements – which will expand our existing reach even further into more countries, enable us to increase limits and offer more currencies. 

“Beyond this milestone partnership and imminent launch in the Netherlands, we are expecting to see exciting developments over the coming 12 months as we prepare to launch in even more markets.”

Pleo’s latest announcement comes after it announced Søren Westh Lonning as its new CFO in December 2023. 

Conor Sheehy, Managing Director, Head of Warehouse Finance, HSBC Innovation Banking UK adds: ”This transaction demonstrates HSBC Innovation Banking’s capabilities to provide multi-currency, multi-jurisdictional facilities to support leading credit originators launching new and innovative products. 

“We are proud to be providing Pleo with this facility and look forward to supporting them to continue on their global growth trajectory.”

HSBC Innovation Banking’s latest cash injection into Pleo follows similar debt funding for Liberis in December 2023, to fuel Liberis’ growth across Europe and North America.