September 26, 2019 | Louise Basse
Designed to reduce the burden of managing and approving expenses, Pleo is a smart company card solution that decentralises company spending and simplifies bookkeeping.
The company’s ambition is to inject trust and transparency into work-related spending, while at the same time providing the answer to modern businesses that want to skip the hassle of approving company expenses.
To explore why they teamed up with Nordic API Gateway, we sat down with Pleo’s Co-founder and CEO, Jeppe Rindom, to hear how Nordic API Gateway helped his company overcome the challenges associated with expense management.
With more than 4,500 business clients, Pleo has quickly become the go-to company card solution to take care of employees’ company expenses.
To keep up with the demand of their customers, Pleo partnered up with Nordic API Gateway to accelerate how fast they can access transaction data on behalf of their clients. And in less than three weeks, Pleo was up and running with Nordic API Gateway.
“Before we integrated with Nordic API Gateway, one of our biggest hurdles was being able to see the transactions our customers were transferring to our account. This was a major pain point for us because it could prolong the time it took for the customers’ top-up payments to reach their prepaid cards”, explains Jeppe:
“With Nordic API Gateway, we’re able to see the transactions within just a few seconds and that has a huge value for our business and customers.''
When Pleo started the hunt for a new technical setup, the young company was determined to find a fintech that could deliver fast, compliant bank integrations without compromising on quality, he explains:
“Nordic API Gateway was the only solution in the Nordics that offers full coverage of all B2B accounts. In addition to creating a faster top-up payment system, the full coverage also gives us new opportunities on the product front,” Jeppe says.
According to the Pleo CEO, it has been very beneficial for them to team up with another fintech because both companies hold a strong entrepreneurial DNA. This allowed Pleo to get up and running with the new technical set-up in no time.
With the company recently coming into a set of major investments, there’s no doubt that Pleo is carving out a new path when it comes to handling company expenses.
But why is Pleo the answer to the future of expense management?
If you ask Jeppe Rindom, it’s all due to changes in the modern management philosophy.
“Traditionally, work-related expenses have been connected to a few people in the company. But as times have changed, it’s become obvious that more employees need to be able to pay for the tools or services that are related to their job,” he says.
“Therefore, the future of management will be much more focused on trust and transparency. At Pleo, we want to give companies the right tools to make work-related expenses an easy part of the employees’ workday. That's the way to make employees feel effective and valuable to the company,” concludes Jeppe.
Do you want to explore how you can optimise instant, real-time data access to build innovative services that fit the demands of tomorrow? Visit Nordic API Gateway today to find out how.