Germany’s newest unicorn: Moss bags €30M to hit €1B valuation, aims for profitability by 2027

Six years ago four founders in Berlin got fed up wrestling with their old company's expense reports and spreadsheets. That annoyance became Moss, and this week it became a unicorn. The Berlin fintech closed a €30 million Series C led by Portage and Cherry Ventures, pushing its valuation to €1 billion and adding it to a short list of German unicorns that now includes Finn and Neura Robotics, both of which crossed the same threshold earlier this year.

Moss started in mid-2020 with a fairly modest pitch: a corporate credit card built for German startups. Five years on, it's grown into something closer to a full finance operating system, bundling cards, invoice handling, reimbursements, live budgets and automated bookkeeping into one product. A manufacturer, say, can hand department heads virtual cards with spending caps, and Moss's AI agents will sort and reconcile every transaction without anyone touching a spreadsheet. The company says it's now chewing through more than two million transactions a month across 5,000-plus business customers in Germany, the UK, Netherlands and Austria.

The numbers behind the round are just as telling as the valuation itself. Annual recurring revenue has topped €70 million, growth is running at 65%, and total funding has crept up to roughly €160 million from €130 million after the 2022 Series B. That earlier round, a €75 million raise led by Tiger Global, valued Moss above €500 million — meaning it's roughly doubled in three years, in a European fintech funding climate that's been anything but generous.

What separates Moss from Ramp, the $22.5 billion US giant it's chasing, or European rivals like Payhawk and Pleo, is a deliberate refusal to let its AI act on its own. Every agent-prepared task still needs a human sign-off before anything actually happens in the ledger. Cherry Ventures framed this as the whole thesis for the next round of product work, calling it