“Can a European B2B card-issuing infrastructure company become the default Cards-as-a-Service and Card OS layer for banks, fintechs, and SaaS platforms globally?”
Founded in Berlin as a B2B corporate credit card product, Pliant initially relied on third-party e-money issuers (TPML / Transact Payments Malta Limited) before obtaining its own EMI license through Pliant Oy in Finland and achieving Visa Principal Membership, establishing self-operated card issuing infrastructure. The company then pivoted from a pure end-customer credit card product toward a B2B infrastructure play, launching Cards-as-a-Service (CaaS) and Banking-as-a-Service (BaaS) capabilities so that non-financial companies, SaaS platforms, lenders, and banks can embed card programs into their own products. The 2025 Series B marks the beginning of an international expansion phase, with the US market as the primary target.
Pliant discloses Pliant Oy (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Pliant does not disclose a bank charter of its own; its banking services are provided through Pliant Oy (in-house).
Pliant processes payments through Pliant (self-operated).
Pliant's cards are issued through Pliant Oy (in-house).
Pliant integrates with QuickBooks, Xero, DATEV, Sage and NetSuite.
The Embedded Finance Index 2026 maps 4 layers in Pliant's stack: Payments / PSP (Pliant (self-operated)); Banking / BaaS (Pliant Oy (in-house)); Card issuing (Pliant Oy (in-house)); Accounting (QuickBooks, Xero, DATEV, Sage and 1 other).
Pliant was founded by Malte Huffmann and Fabian Terner and is founded in 2020, headquartered in Berlin, Germany.
Pliant has raised $100M+ in total (latest round: Series B, April 2025).
Get a read on where your own stack stands against Pliant and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.