Moss receives Bafin license

The Berlin-based fintech has received an e-money license from Germany's financial regulator, according to a media report.

Credit card fintech Moss, according to research by Finance Forward received a license from the German Federal Financial Supervisory Authority (Bafin). This is a so-called e-money license. This license enables the start-up to process significant parts of its payment transactions itself, instead of having to rely on a third-party provider. For example, Moss is now allowed to issue credit cards itself; until now, according to the Finance Forward report, the fintech has been using the Maltese service provider Transact Payment.

The Berlin-based fintech has been on a strong growth trajectory since it launched a corporate credit card for businesses in mid-2020. Earlier this year, it closed a Series B funding round and raised €75 million. The total valuation thus rose to half a billion euros. Applying for a corresponding Bafin license thus appears to be the next logical step.

Spittler, Anton Rummel, Ferdinand Meyer and Stephan Haslebacher founded Moss in Berlin in 2019. Customers can use Moss as a complete solution for their expense management or put together an individual solution from various modules. The startup offers digital and physical corporate credit cards and tools for capturing invoices, accounting for employee expenses and managing liquidity, among other services.