Pliant raises $80M as Citi Ventures joins the cap table

Berlin-based Pliant has raised $80M (about €71M), double the $40M it raised last year. Seaya Nova and Speedinvest co-led the round. Seaya Nova is a Spanish growth investor that recently closed a €600M fund. Speedinvest is a returning investor.

Illuminate Financial, Motive Partners and Molten Ventures also participated. Citigroup joins for the first time through Citi Ventures, its corporate venture arm. Carsten Maschmeyer's Alstin, an early backer, did not put in new money and is diluted.

Pliant was founded by Malte Rau and Fabian Terner. It provides corporate credit cards and card issuing for businesses, with a strong position in travel payments.

The read: Citi and Pliant compete in the travel business, and according to people close to the bank, the fintech has been winning more often lately. Citi is now an investor in a competitor.