Who are Soldo?
- Phil Turton
- 1 hour ago
- 6 min read
If your finance team is still chasing paper receipts, waiting for end-of-month expense reports, or issuing petty cash for team spending, there is a better way. The spend management market has matured significantly over the past decade, and a number of platforms now exist that give businesses real-time control over employee spending without slowing teams down. Soldo is one of the most established names in that space, particularly across the UK and Europe.
If you are currently evaluating finance and expense management technology, this profile will give you an independent, factual overview of what Soldo offers and who it is best suited for. You might find more useful information in our Finance Technology Selection page.
Who Are Soldo?
Soldo is a British fintech company founded in London in 2014 by Carlo Gualandri and Alpesh Patel. The business was built around a straightforward problem: corporate expense management was still largely manual, slow, and poorly suited to how modern businesses actually operate. Gualandri, who serves as CEO, had a background in software and payments, and the company was designed from the outset as a technology-led platform rather than a traditional financial services product.
Headquartered at 119 Marylebone Road in London, Soldo also has offices in Dublin, Milan, and Rome, giving it a strong European operational footprint. The company has raised over $310 million in total funding across multiple rounds, including a $180 million Series C in 2021 led by Advent International, with participation from Accel, Battery Ventures, and Temasek. As of early 2026, Soldo employs approximately 390 people.
In 2025, Soldo was recognised in CNBC's World's Top FinTech Companies ranking, appearing in the Enterprise Fintech category alongside businesses making a measurable impact on B2B payments and finance operations. The company now serves more than 25,000 organisations across 31 countries, ranging from small businesses to large multinational corporations.
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What Does Soldo Do?
Soldo's core product is a spend management platform that combines prepaid Mastercard company cards with a cloud-based software layer for budget control, expense capture, and accounting integration. The central idea is to replace the traditional reimbursement model, where employees spend their own money and claim it back later, with a proactive model where spending is controlled before it happens.
Businesses load funds into a central Soldo wallet and then distribute that money to individual employees, teams, or cost centres via virtual or physical prepaid cards. Administrators can set spending limits by time period (daily, weekly, or monthly), restrict specific merchant categories, control whether cards can be used for ATM withdrawals, and approve or deny individual purchases. All of this happens in real time, so finance teams are not waiting for month-end to understand where money has gone.
The expense capture side of the platform allows employees to photograph receipts on their mobile devices at the point of purchase. Soldo matches those receipts automatically to the corresponding card transaction, categorises the spend, and routes it through any required approval workflow. The company claims this automated approach delivers around 80 percent time savings on month-end reconciliation, based on Forrester research commissioned by Soldo.
Integration with accounting systems is a key part of the proposition. Soldo connects natively with Xero, QuickBooks, Sage, and DATEV, pushing categorised transaction data directly into those systems without manual re-entry. This is particularly valuable for finance teams running lean, where time spent on data entry is time not spent on analysis or forecasting.
Soldo also introduced a carbon emissions tracker in its Winter 2024 product update, automatically calculating CO2e data for business travel and purchases. This reflects a growing expectation among finance teams to capture ESG-relevant data as part of their standard reporting.
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Who Does Soldo Typically Serve?
Soldo's sweet spot is the European SMB and mid-market segment: companies with between 20 and 500 employees that have outgrown petty cash and basic bank cards but are not yet running a full enterprise ERP-integrated procurement process. Industries with distributed teams, frequent field activity, or high volumes of incidental spending tend to get the most from the platform. Manufacturing, care, retail, travel, and professional services are among the sectors where Soldo has gained traction.
The platform scales upward into larger enterprise environments, and Soldo has customers that include Mercedes-Benz, GetYourGuide, Gymshark, and Brooks Running. However, the product architecture, pricing model, and onboarding experience are all well suited to organisations that want to get up and running quickly without a lengthy implementation programme.
In 2023, Soldo was named as a Crown Commercial Service supplier for the UK government's PrePaid Cards framework (Lot 2), enabling local authorities and public sector bodies to distribute and manage funds for vulnerable citizens. This demonstrated the platform's ability to operate in regulated, high-accountability environments beyond the commercial sector.
What Are Soldo's Key Strengths?
Soldo's primary strength is the combination of card issuance and software management in a single platform. Many businesses have historically had to stitch together a card programme from their bank with a separate expense tool. Soldo delivers both under one roof, which simplifies procurement, support, and data flows.
User satisfaction ratings are consistently strong. Across review platforms including Capterra, G2, and GetApp, Soldo averages between 4.6 and 4.7 out of 5, with reviewers frequently citing ease of setup, intuitive mobile and desktop interfaces, and a significant reduction in administrative overhead compared with traditional approaches.
The platform's proactive control model is a genuine differentiator. Rather than reviewing and approving spend after the fact, finance teams can set the rules before money leaves the account. This shifts expense management from a reactive audit function to a real-time control function, which has meaningful implications for cash flow visibility and budget discipline.
Soldo's European heritage and regulatory posture is also worth noting for buyers operating in multiple EU jurisdictions. The company is structured to support SEPA payments and operates under EU and UK financial regulations, which simplifies compliance for businesses running operations across multiple countries.
Soldo Customer Examples
GetYourGuide is a Berlin-based online travel and experiences marketplace. The company uses Soldo to manage spend across its international teams, with a reported 14 percent boost in sales attributed in part to the financial agility the platform provides. GetYourGuide cites real-time spending visibility and reduced admin as key benefits.
Brooks Running, the US athletic footwear brand with operations across Europe, uses Soldo to manage team spending across its European markets. The platform's multi-currency support and integration with accounting systems makes it a practical fit for a consumer goods business running distributed commercial operations.
UK Local Authorities via Crown Commercial Service use Soldo to distribute prepaid funds to citizens in need through the government's cost-of-living support programmes. This use case demonstrates Soldo's capacity to operate in accountable, regulated environments with strict spend tracking and reporting requirements.
How to Find and Select Finance Technology
If you are in the market for a new finance solution, or might be shortly, our 'How to Find and Select Finance Technology' is a handy read.
Our Viewpoint: Is Soldo Right for You?
Soldo is a mature, well-funded platform with a clear use case and strong user satisfaction. For European SMBs and mid-market businesses that need to replace petty cash, simplify expense reporting, and give finance teams real-time visibility without a complex implementation, it is a credible and well-proven choice.
The main caveats worth considering are around the prepaid model itself. Soldo requires businesses to load funds before they can be spent, which suits organisations with predictable cash flows and a preference for hard budget limits. It is less suited to businesses that need credit-backed corporate spending or more sophisticated procurement and accounts payable workflows. If your requirements lean toward full procure-to-pay or complex approval hierarchies, you will want to evaluate whether Soldo's feature depth matches your needs before committing.
For buyers in regulated sectors or public sector organisations, the Crown Commercial Service approval and Soldo's regulatory standing in both UK and EU jurisdictions is a meaningful point of comfort. For European businesses evaluating US platforms, Soldo's home market advantage in compliance and currency support should be factored into any comparison.
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