Pliant, a Berlin-based B2B credit card fintech, has secured over €18 million in a Series A extension, pushing the total funding for this round beyond €50 million.

PayPal Ventures led the latest investment round, with participation from existing investors Alstin Capital, SBI Investment, and Motive Ventures.

Earlier this year, Pliant raised €28 million through its initial Series A funding round. With this new injection of capital, the company is set to expand its cards-as-a-service (CaaS) product into markets outside the European Union, with a focus on the UK.

To facilitate its expansion plans, Pliant has developed multi-currency capabilities, allowing it to offer services in 11 different currencies. This enhancement enables customers to receive invoices in the same currency used for the transaction, a feature particularly beneficial for businesses dealing with significant volumes in non-EUR currencies.

Pliant attributes this funding success to its strong performance in 2023, where it doubled its annual revenues.

Additionally, the fintech has broadened its reach by extending its Electronic Money Institution (EMI) license to cover 25 countries across the European Economic Area (EEA). This expansion allows Pliant to offer financial services beyond card issuance in the region.

Source: fintechfutures.com

The post Credit card fintech Pliant lands €18m Series A extension led by PayPal Ventures appeared first on HIPTHER Alerts.

The post Latvian Fintech inGain Raises €650,000 for No-Code SaaS Loan Management System appeared first on HIPTHER Alerts.

HEFEI, China, April 20, 2024 /PRNewswire/ — On the evening of 19 April, Gotion High-tech (002074) released its 2023 annual report. The company achieved operating revenue of RMB 31.605 billion, an increase of 37.11% YoY; operating profit of RMB 975 million, an increase of 390.92% YoY; and net profit attributable to the owner of the listed company of RMB 939 million, an increase of 201.28% YoY. The company’s net cash flows from operating activities was RMB 2.419 billion, up 201.86% YoY.

On the same day, Gotion High-tech also released its 2024 quarterly report. The company achieved revenue of RMB 7.508 billion, a YoY increase of 4.61%, and net profit attributable to the owner of the listed company after deducting non-recurring profits and losses increased by 195.26% YoY.

The report shows that Gotion High-tech’s product delivery exceeded 40GWh in 2023, with a YoY growth of more than 40%, and sales revenue including tax increased by more than 50% YoY under the situation of continuous decline in battery prices. Power battery sales revenue of RMB 23.051 billion, a YoY growth of 24.72%. Energy storage business revenue was RMB 6.932 billion, up 97.61% YoY, with the revenue share rising to 21.93%.

Gotion High-tech adheres to innovation drive, increases R&D investment, and accelerates product technology iteration. In 2023, the company’s R&D investment reached RMB 2.768 billion, a YoY increase of 14.57%. The company’s Unified Cell, 4695 cylinder cell, semi-solid punch cell and third-generation battery cell products such as L300, M600 and N300 have been recognized by the market for their excellent performance in terms of safety, energy density, power performance and service life. Among them, Gotion has been designated by Volkswagen Unified Cell globally; the energy density of the in-house developed Astroinno battery pack reaches 190Wh/kg.

In addition, Gotion High-tech continues to deepen the strategic layout of globalization. With four Pack plants in Germany, Indonesia, Thailand and Silicon Valley of the U.S. launching their products, and production bases such as in Vietnam, Chicago of the U.S., Michigan of the U.S., Slovakia, Argentina, and Indonesia progressing step by step, Gotion High-tech initially formed the layout of ten overseas bases covering materials, cells, and Pack, and realized localization of production and R&D. In 2023, Gotion achieved overseas revenue of RMB 6.428 billion, a YoY growth of 115.69%.

View original content:https://www.prnewswire.co.uk/news-releases/gotion-high-techs-operating-profit-up-391-in-2023–nearly-rmb-2-8-billion-invested-in-rd-for-the-year-302122659.html