Inside Moss

Fresh momentum for Moss with strong ARR growth, EMI licensing and product expansion focused on the finance professional

Asha IndralingamJune 05, 2024
Momentum for Moss

The News 

  • Laser focus on the day-to-day experience of finance professionals has led to 100% growth in ARR in the last 12 months as well as 120% net revenue retention.
  • CEO Ante Spittler confirms that on the back of the strong performance in 2023, Moss has secured additional fresh capital from existing and new equity investors bringing total available equity capital to €70M.
  • Moss increases trust with electronic money institution (EMI) licensing and "Pay with Moss", allowing businesses to make domestic and international bank transfers directly out of Moss, backed by Deutsche Bank and 4-eye authorisation for added security.

Berlin, June 5, 2024: Moss, Europe’s leading spend management platform, is kicking off the summer in high gear, reporting 100% ARR growth in the last 12 months. Carrying its strong momentum into 2024, Moss announces fresh focus, increased capital and product expansion across its key markets.

Just under four years after Moss launched its corporate card for SMBs in Germany, the platform is now a complete and connected suite of products for all company spending and payments — from procure to pay, accounting and budget controlling — finance professionals are now empowered to automate much of their day-to-day work. 

With a core focus on freeing up finance professionals and removing the manual parts of their work, the product team has developed a large number of improvements to offer complete, spend-relevant workflows at the highest level of quality available. This includes a procurement offering, in-app payment-run functionality and fully flexible accounting and controlling dimensions.  Furthermore, the team have deepened export flows to critical accounting integrations like DATEV and NetSuite with full 2-way syncing capabilities for more streamlined bookkeeping, as well as adding 40+ HR integrations, not only for syncing employee data but also for maintaining operational continuity during absences or leaving. These changes, underpinned by unparalleled speed of execution, have paid off with a 120% net revenue retention and increased referral rates.

“Switching to Moss was a game-changer for us. In the industry, they're hard to beat when it comes to user-friendliness and customer support, but we've been especially pleased by the team's responsiveness to our product feedback, especially around controlling and accounting," says Fritz Cramer, Managing Director at Cosuno GmbH. "It's refreshing to see the speed at which they continue to deliver a product that fundamentally improves the day-to-day of our finance teams.”

On the back of its strong performance in 2023, Moss has secured additional fresh capital from new and existing investors like Valar Ventures and Cherry Ventures, bringing total available equity capital to €70M. Based on its current traction, Moss will use this capital to push more investments into treasury, as well as tackling FP&A and AI, including pre-accounting automation.

Moss CEO and co-founder, Ante Spittler says:

“This capital infusion shows a strong conviction from investors that we're on the right path to shape the future of spend and payments software. Indeed, we envision a world in which finance teams are freed from the manual and repetitive parts of their day-to-day, so they can become business partners across the company, with Moss as their trusted co-pilot."

Moss is also launching "Pay with Moss" across all markets, a new capability that will allow businesses to pay invoices and reimbursements via bank transfer straight from their Moss account. Customers can load funds onto a Moss wallet hosted with Deutsche Bank and use these to pay in EUR or other currencies at competitive exchange rates. Customers using Pay with Moss have reported higher efficiency, reduced errors, and a more streamlined payment process.

The group company, Moss GmbH, has also previously been granted a license as an e-money institution (EMI) by BaFin, Germany’s financial regulator, marking a significant milestone for Moss and its customers. As a licensed institution, Moss GmbH is a direct member of the Mastercard network and the issuer of corporate cards. Customer funds will be safeguarded in escrow accounts held with Deutsche Bank.

“Securing an EMI license has been a strategic priority for Moss since our founding and we are proud of achieving this milestone,” said Stephan Haslebacher, COO and co-founder of Moss. "Trust and reliability is key to serving SMBs and pursuing a license in Germany was an obvious step for us to underline our commitment to quality and ultimately, building the best possible financial products for our customers.”

Learn more about spend management with Moss and book a demo today.