Soldo cost management platform has announced the expansion of its Mastercard partnership to become a leading member of the global payment and technology giant. In addition, the association would enable Soldo to become more autonomous within innovative payment products and reduce dependency on third parties. This was reported on July 8th by PRNewswire from London.
According to the PRNewswire statement, this announcement “coincides with the successful migration of more than 60,000 Soldo customers to issue internal cards to ensure business continuity for Soldo customers. The migration was originally planned for August 2020, but was accelerated due to the FCA’s temporary suspension of the Wirecard service. “
They also pointed out that Mastercard’s core membership is the next step in a partnership between the two companies. In addition to being able to issue cards directly, Soldo would have access to a wider range of products and services to improve its offering to customers.
Carlo Gualandri, CEO of Soldo, commented:
“With our core membership, Soldo has reached an outstanding milestone and we are very proud of everything the team has contributed to getting here. The expanded partnership marks the next phase in Soldo’s life cycle and increases our ownership of the infrastructure. It was fantastic to work with the Mastercard team during the fast card migration migration process. We’re committed to re-inventing the way businesses manage their spending to make processes more efficient, less painful, and ultimately saving money. “.
On the other hand, Edoardo Volta, Head of Fintech at Mastercard, added:
“The growth in the status of a core Soldo membership is a natural development for our long-term partnership. The rapid growth and consistent commitment of Soldo to innovations fit seamlessly with the ideals of Mastercard. We are constantly developing our offer to support our fintech partners We can’t wait to see what Soldo does next. “
Soldo Fintech was founded in 2015 by Carlo Gualandri. In 2019, the company raised $ 61 million in a Series B round led by Battery Ventures and Dawn Capital, with Accel participating among other existing investors.
You may be interested in: