Peter Thiel invests in fintech Moss

Berlin-based start-up Moss - formerly Vanta - has raised €21 million.

Peter Thiel's US investor Valar Ventures leads the Series A financing round of credit card fintech Moss. Existing investors Cherry and Rocket's Global Founders Capital are pouring in more money. In total, Moss, which was called Valar until a month ago, will receive €21 million.

The startup was founded in 2019 and only launched its offering in June last year. 40 employees work for the Berlin-based fintech. Moss offers virtual corporate credit cards, mainly for startups and small businesses. So far, 1,000 cards have been issued, and monthly issuance is growing by 50 percent. Now, companies with up to 500 employees are expected to follow suit. As Finance Forward writes, the startup is already worth €100 million after the investment. "We see incredible potential in Moss and how their technology is revolutionizing payments and lending for businesses," said James Fitzgerald, Founding Partner at Valar Ventures. "The team has unparalleled financial and technology expertise and we believe they are well on their way to becoming a transformative company."

For Peter Thiel's Valar Ventures, Moss is another fintech in its portfolio. Previously, the German-American also invested in N26, crypto startup Bitpanda and tax app Taxfix.