E 768 — Unicorn Atlas #2: Moss — Berlin's Finance-AI Unicorn Betting on Control, Not Autonomy
episode
FinTech Germany – Fintech Startups, Banking Innovation & Venture Capital by Startuprad.io™
20 min
1 speaker
2 chapters
transcribed 1 month ago
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can earn and prove trust. Get started today at vanta.com slash startup radio that's V A N T A dot com slash startup radio. On the fifth of August twenty twenty six, a Berlin FinTech that most of the German startup press had written off in the twenty twenty two downturn closed a thirty five million euro C at a one billion, yes would be, Eurovaluation. Germany s used unicorn and it got there. This is the interesting part. With the public bet against the loudest consensus in enterprise AI right now, the Unicorn Atlas is back. This is episode number two. This is Moss.
Hello and welcome everybody. This is episode seven hundred sixty eight or seven hundred sixty eight of Stolabrate O, recorded solo by me, Jan Manninger, Joe Manager from Frankfurt am Main. This is Unicorn Atlas episode number two. Check our blog. We weekly post about a new unicorn there and on occasion make episodes like this one.
Number one. Two weeks ago was Helsing. Keep in mind in July we were originally on a biweekly publication, but it turns out the bi weekly publication is two episodes every other week. So sorry about that, but things happen. Um uh with housing.
eighteen billion dollar European defense AI bet. Today is the other end of the European Unicorn spectrum, not a defense tech story, a fintech story, not eighteen billion dollars on optionality, one billion euros on genuinely differentiated thesis about how finance teams want to work with AI. If you've been listening to Celebrator. Ante Spittler when Moss was still a spend management company competing hard in a crowded European card and expense category. Corporate cards, expense automation, 300,000 cards issued, over 5 billion euros in annualized payment volume. BAFIN License, the usual European FinTech stack. That interview is linked in the show notes, and I'd recommend it if you want the earlier chapters.
Today's episode picks up where that conversation left off. At the moment, Moss stopped being a spend management company and started calling itself a finance AI company. And more importantly, At the moment a specialist fintech investor was willing to lead a unicorn round to back that positioning. Over the next twenty minutes I'm going to walk you through what the Series C actually is, who put in the money, and why lead investors matter, what Moss contrarian bad is, and what the customer data behind it looks like, how Moss got here, and after that. FinTech pointer that nearly killed the category and what an operator or investor should actually take away from this route. Let's go. The CRC in one paragraph is
Here are the numbers from Moss' own announcement on august fifth, twenty twenty six. Thirty-five million euros raised, one billion euro post money valuation. Total funding across all rounds now approximately 200 million euros. Lead investor Portage, the fintech special investment arm of Canadian asset manager Sagat. Existing investor participation, Cherry Ventures, we interviewed Philip, link in the show notes, on the cap table since the earlier rounds. Prior lead investors on the cap table include Tiger Global Management, who led the 2021 Series B, and Vala Ventures by Peter Thiel. Moss says it has grown revenue twenty-fold since that 2021 Series B. It does not pop an absolute revenue number, so we cannot back solve to a specific ARR figure.
Twenty times non-disclosed base is still non-disclosed number, you know.
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Chapters
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