Bettercard stops after a few weeks

The provider of corporate cards has closed its business after a few weeks. Customers have now been advised to switch to rival Pliant.

In 2020, the Hamburg-based start-up Bettercard wanted to enter the market for the first time. However, this did not happen, as the company had cooperated with Wirecard, of all companies, at the time. The partner company filed for insolvency a few days before the Bettercard launch. Bettercard did find a new partner in Solarisbank. In September 2021, the start-up was also able to launch in the second attempt. However, founders Martin Bleich and Hinnerk Rott now had to abandon the venture - and decided to shut down their business, as Finance Forward reported.

The company's founders believe the timing would have been appropriate in 2020. However, the fast-moving fintech market is evolving rapidly. In the meantime, they say, several competitors have joined the market with similar offerings in their portfolios. Among them are the companies Moss, Plep or Pliant. Bettercard was not able to catch up - and is now said to have lost about 1.1 million euros with the start-up.

It is the competitor Pliant that is now to take over Bettercard's customers: By the end of the year, when the contract with Solarisbank expires, customers should be able to switch to Pliant. After all, Bettercard receives a commission per customer. Meanwhile, the founders Bleich and Rott do not want to give up. The company will remain in existence and wants to develop new ideas.