Hi hunters,
We are very excited to be here, thanks for hunting us @__tosh.
Company spending, sharing of credit cards and constantly chasing that missing receipt. Its such a mess, right?
Pleo was built out of our frustration of dealing with these issues daily. Everyone hates the complexity around expense reports, no matter if you’re an employee or a CFO. We believe things like expense reports, reimbursements, sharing of credit cards around the office and petty cash are broken processes that just create friction and more work for everyone.
Buying things has gotten so much easier with so much innovation happening in the consumer space, but in the business world, most companies are still left handling everything with paper, forms and spreadsheets.
Since our launch, we’ve seen hundreds of companies from all sorts of different verticals, from freelancers to big companies, using it and helping us make a perfect business spending solution for business people.
We are currently live in the UK and Denmark, soon expanding to the rest of EU!
Looking forward to hearing your feedback and the questions you might have!
I recommended Pleo to our CFO back in December, we implemented it in January 💪🏽
And now I think that she's secretly in love with me 😝
Amazing product guys - I wish I had a stake in it 👌🏽
Pleo looks very nice. At Dataiku, we are using a very similar solution but available yet in more countries: Spendesk.com Easy payments and approval process, less paperworks, better tracking... It really helped our startup to scale!
@jeremy_gr Thank you for the compliments Jérémy! If you like Spendesk, I bet you will love Pleo. With Pleo you don't have to prepay each card and our pricing is quite compelling in comparison. France to come soon :-)
The way expenses are captured in most companies at the moment is incredibly time-consuming. It's great to see such a nice looking mobile experience and the automatic categorization of purchases. Also love the fact that you only pay for employees that have used their card at least once that month. Looking forward to seeing where this goes!
@anthilemoon yeah, thats what we think too! with today's payment technology and a nice software layer on top, there is much we've managed to automate. Pleo is for the entire team and our pricing is designed so companies don't have to think hard about onboarding employees that are not so frequently using the service.
Pleo is a way for companies to issue company cards to employees, set individual limits to control the budgets and see all the spending as it happens in real-time. It instantly reminds employees to take care of their receipts with the mobile app and links everything to the accounting software, so bookkeeping is done instantly for managers. This finally means no more annoying expense reports for employees.
I first discovered Pleo last year when they won Pioneers festival in my home town Vienna. Since then they’ve progressed tremendously fast and built a base of hundreds of happy customers while in private beta.
Hello! Congrats for this.
I'm very surprised https://www.expensify.com isn't mentioned in any comment.
Their product is absolutely great and they already sync with tons of existing standard credit cards to automatically create expense reports. I'm been using it for years (and for free) and I'm really happy with it.
(no disclaimer: I don't work/didnt invest in their company :)
No bashing intended, of course, I didn't investigate on Pleo and maybe I'm missing a strong differentiation/value creation.
@paulodef Hi Paul, I think Expensify has done a great job in the past 10 years in using software to help business people with their expense reporting.
Pleo is on a slightly different journey. We see tons of small/mid sized companies struggling to manage their spending. Many employees are buying things and services on behalf of the company, but rarely do they have their own company card and are left with options such as paying out of pocket or borrowing a manager's credit card. This causes frustration and confusion around who is responsible for each purchase, where to find the receipt and so forth. Unfortunately, those businesses have not been able to find the answer in Expensify.
Pleo is about empowering your entire team with a payment card, but in a transparent and controlled way. Now, those who need to buy stuff can do this in an efficient way. As opposed to Expensify, our software connects with the payment processor, which give a number of benefits. For example, we push a notification to the users' phone within mili-seconds of an authorisation. This reminds the user to collect the receipt, which can be done by just tapping the notification and pointing the phone towards the receipts. Simplifying this process as much as at all possible has shown a dramatically higher succes rate in collecting the receipts.
Awesome product, have been an early user. So good that I don't have to bug my manager every time I have to make a purchase! @jepperindom which EU countries are you planning to expand?
@danielverten Hi Daniel, I am super excited to hear that you're one of our happy early users. At the moment, we're live in UK and Denmark. But look out, we'll be moving into other European countries in 2018. Launch dates are not quiet public yet, but do expect us to go live in the Eurozone and the rest of Scandinavia
@jkrusborg Hi Johan, Yes we do! - we're currently live in Denmark and UK and expect to add more European countries in 2018. If you sign up for a trial at pleo.io, we'll get in touch when we're ready in your country.
One of the first users of Pleo. All of my team are using it and I'm so happy to not have to collect their receipts every month.
On a personal note it's always impressive when I use my Pleo card at a physical POS - I get my Pleo notification on my phone before the POS shows approval.
@joshuakarjala Hi Joshua, thanks again for supporting us as an early beta tester. Yeah, the push notification and 'one tap to snap' feature is very beloved! Most of our users enjoy not having to carry that paper receipt.
Awesome, I really need this - how do I get started? And how does it actually work, do we need to change bank - or is it more like a "prepaid phone card" just for company credit cards?
@rabu81 Hi Rasmus, great to hear. Its pretty easy to get started. Virtual Pleo cards can be created for your employees out-of-the-box and plastic cards will arrive within 48 hours. Pleo is a bank independant solution. You can make same day wires to your Pleo account and we will notify you when it's time to reload.
@jepperindom wow, that's awesome 🤘 ! ...on a side note; I just order a private card from my bank, they told me I would have it by 10 working-days 🤔 then I asked for a virtual card, they had no clue what I was talking about 🤣
Great job guy - simple solution to an underrated problem IMO. I would love to read a Pleo case study in the future, if you're planning to do one. Keep up the good work! :)
If I want Pleo for my company? Yes please!
Even in smaller teams I clearly see that Pleo will be a true pain-killer, probably from the 1st day of usage. Impressive!
When will companies in Sweden be able to get rid of expense reports in this simple way?
hey @jepperindom it looks awesome, very sleek user interface, I love the design, it seems a very promising product! My only question is how does Pleo differ from Soldo for example?
@lorenzobruno Hi Lorenzo, I am happy to hear that you like the design and simplicity of our product. Soldo is active in the UK market and on a headline basis, they are addressing some similar pains. However, as you often find, the products are quite different when you start to use them. In Soldo, you for example have to prepay money to each card before they are used. This can be a fairly time consuming task and it requires much cash. We've designed Pleo in a different way, where the money is held in a single Pleo master account, from where each card is running - yet still limited by the spending limits that you can set for each user. Many users also enjoy our automated accounting and integrations to accounting systems such as Xero.
This is amazing love the idea!! Looks like the whole company has to adopt the new system before you can use it.
I know lots of people who would gladly pay the monthly subscription if they could just get the card and it integrated into our company's existing system. ie. Concur ;)
@hudsonkent Yeah, the experience peaks when it is widely adopted in a company. That said, we do have customers that are starting with one team or eg. the headquarter. We're soon launching our open API as we see more and more companies wanting to push our data to other systems
This is cool, my business partner (who manages this side of things) is always complaining about how difficult it is. Well done, great solution. Come to Australia!
@smebberson Glad that you understand the pain points we are solving :-) Australia would for sure be interesting. We're already integrated and partnering with Xero (the accounting system with a major market share in New Zealand and Australia), so there is already some logic to your proposal :-)
Pleo