Moss build-up process costs almost 5.6 million euros

The Berlin-based fintech offers corporate credit cards and invoice management for companies. Now the start-up has presented a year-end report for 2020.

Moss is making great strides towards becoming a unicorn, most recently raising €75 million in its Series B funding round . The annual financial statements for the 2020 financial year now show that the net loss of the fintech, which is currently valued at just over 500 million euros, amounted to just over 4.7 million euros last year. In 2019, the net loss was still around 860,000 euros. This means that the development of the fintech by 2020 has cost a total of almost 5.6 million euros. By its own account, the startup has raised more than 130 million euros in venture capital from investors Tiger Global, A-Star, Valar Ventures, Cherry Ventures and GFC since its founding.

Ante Spittler, Anton Rummel, Ferdinand Meyer and Stephan Haslebacher founded the startup with a mission to digitize corporate expense management. Now, 200 employees are working to make invoice management and accounting automatic and digital for customers. Companies have the choice of using Moss as a complete solution for their expense management or putting together a modular solution. With the launch of the product in the Netherlands, the start-up has also taken the first step towards international expansion.