Moss receives Bafin license

According to a media report, the Berlin-based fintech has received an e-money license from the German Federal Financial Supervisory Authority.

According to research by Finance Forward has received a license from the German Federal Financial Supervisory Authority (Bafin). This is a so-called e-money license. This enables the start-up to process essential parts of payment transactions itself instead of having to rely on a third-party provider. For example, Moss can now issue credit cards itself; according to the Finance Forward report, this was previously handled by the fintech's Maltese service provider Transact Payment.

Since the Berlin-based fintech launched a corporate credit card for companies in mid-2020, the start-up has been on a strong growth trajectory. At the beginning of the year, it closed a Series B financing round and raised 75 million euros. This brought the total valuation to half a billion euros. Applying for a corresponding Bafin license therefore 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. Among other things, the start-up offers digital and physical company credit cards and tools for recording invoices, settling employee expenses and managing liquidity.