Financial management platform Friday Finance has ended its business activities, with the initiative to sell parts of its company to Germany-based fintech Pliant . Customers and users of Friday Finance received an email during the middle of July 2023 containing information regarding the end of its business activities, as well as a list of alternative providers such as Pliant, Candis, or Agicap.

The decision of the financial management platform to partner with Pliant focuses on streamlining its wide range of products and services to clients and customers, in addition to the process of prioritising one core tool, which will be on corporate credit cards in the future. The Friday Finance brand as a firm will disappear accordingly. Pliant is set to receive the rights for the intellectual property rights to software developments, trade secrets, and plans, as well as software developments.

Furthermore, it will also take over parts of the Friday Finance team as the founding members will remain on board. Only 15 employees out of 25 will be taken over as part of the new Pliant team, while Friday Finance also employed some freelancers in the field of software development. In particular, Friday Finance’s credit card product will be transferred to Pliant, as other components of Pliant that the company has been working on are in the process of being developed and tested as well.

Pliant’s strategy of development The Germany-based Pliant represents an institution that offers medium to large businesses corporate credit cards that employees can use in order to pay for advertising or company trips, as the products usually have generous limits. The capability is particularly aimed at fast-growing startup firms, as they do not need to resort to inflexible bank loans. The company also allows its cards to be leveraged with commercially available software, such as accounting solutions that eliminate the need for any system changes.

In February 2023, the credit card fintech received around EUR 26 million in a new funding round. The Series A was led by the Japan-based financial investor firm SBI Investment, which was followed by the VC funds lstin and the US-based MS&AD Ventures. Part of the Commerzbank, the venture capital branch Neosfer also invested again in Pliant.

According to the press release published by Gründerszene at the time, the founder of the company did not make any official statement regarding Pliant’s valuation on which the financing round was based. It was known however that it increased compared to the previous round that was held back in December of 2020. .