TL;DR: Launched in Denmark in 2015, Pleo expanded across 16 European markets and the U.S. to become one of Europe’s leading spend-management players, now defending its position against native rivals Spendesk, Payhawk & Moss as Brex and Ramp move into the continent. Sacra estimates Pleo hit ~$150M in revenue in 2025, up 33% YoY, valued at $1.62B as of February 2025 for a ~14x multiple. For more, check out our full report and dataset on Pleo...