Pleo launches ‘Bills’ and gets ready for series C funding: Q&A with Luke Richardson

Updated: Oct 11

Luke Richardson, Brand and Comms Director at the Danish fintech Pleo, reveals some behind-the-scenes insights about the company’s new product launch in the UK and its forthcoming series C funding round this summer.

Pleo launches Bills - banner

Fintech scale-up and expense management provider Pleo has recently launched a new invoice management product feature called ‘Bills’. Available to its UK customer segment, Bills allows SMEs to forward their invoices to a Pleo Bills email address where they get processed by its Optical Character Recognition (OCR) technology and prepared for payment. To avoid any duplicates and discrepancies, each bill is also cross-referenced and validated for authenticity before being approved for payment via the Pleo platform.

What is OCR?

Optical Character Recognition or OCR is a widespread technology that is used to read text inside images, such as scanned documents and photos. OCR technology lets you convert virtually any kind of image containing written text (typed, handwritten, or printed) into machine-readable text data.

“Since the Pandemic hit, Pleo has accelerated its product pipeline to activate vital financial technology features in its journey to become a central hub for companies to manage cash flow - and Bills is an example of this...When nearly 70% of admins told us that they spent half their time on processing bills as well as authenticating the validity of them, it became our mission to simplify this complicated process and provide an end-to-end overview of it." Jeppe Rindom, CEO and co-founder of Pleo