Pliant
“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.