Managing expense reports is an administrative task for many French companies. Fortunately, new payment technologies in recent years have brought welcome dematerialization solutions. Among these French players, we find Mooncard in particular.
Mooncard will help 150,000 officials dematerialize their expense reports
The fintech was developed in 2016 by Tristan Leteurtre (current CEO), Damien Metzger (current CTO) and Pierre-Yves Roizot (current CFO). has just launched its professional expense management solution for 500 public institutions. The announcement will be officially published on Tuesday, September 22nd, 2020 and the public structures equipped with Mooncard are very good references: Matignon, Bercy, the Ministry of Defense, the Police, the National Gendarmerie, the Louvre or even the CNRS
A deployment that is part ofa digital transformation of the state accelerated by the context of the Covid-19 pandemic. Tristan Leteutre, CEO of Mooncard, is excited about this large-scale partnership between private startups and public institutions: “It’s been a dazzling and successful start for Mooncard with the French government. The recent signing of a major contract with the state enables us to offer agents our solution to digitize and automate their business travel expenses.. This success confirms the success that we have known for two years in large groups and SMEs: Agents and employees need solutions like ours to be freed from their administrative mental burden and no longer deal with the drudgery of professional expenses or expense reports. “”
The 500 public institutions represent around 150,000 agents, including all ministries of the French government. In June of last year, Mooncard revealed this collaboration with French public secrets through a press release. The project of “Digitize professional expenses and fees” the French administration was specifically destined toAvoid the processing time of over 3 million fuel cost reports per year. The startup speaks of a million paper receipts that no longer need to be printed. All invoices are digitized instantly and their bookkeeping is automated thanks to integration with HR software (Cegid, Sage, etc.).
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“As demand accelerated sharply this summer, the state is sending a strong and exemplary signal by accelerating the digitization of the daily life of its officials,” Comments Mooncard. And for good reason, Bruno Le Maire and Cédric O said in June that French companies would be at the heart of rebuilding a French economy disrupted by new work habits. This allocated a budget of 7 billion euros to the digital transformation with the aim of “French technological sovereignty”. “”
Agile deployment and a wide variety of features
Before entering the public market, Mooncard cut its teeth in the private sector for 4 years and equipped many French companies. We count in his customer portfolio almost 3000 referencesThese include Cityscoot, Mirakl (the French startup specializing in e-commerce that just raised $ 300 million), Cora, Air France and Zadig & Voltaire.
Mooncard’s offer is based on a payment card, the rights of which can be administered very finely by managers. In terms of functionality, this is possible, for example Define time slots for card activation, geographic areas and also whether withdrawals should be authorized or not. As soon as the expense report has been paid with the card, a verification system is triggered: “As soon as an employee makes a payment with the card, they receive an SMS notification asking them to take a photo of the receipt associated with the expenses. Thanks to a special agreement with Mastercard, we can access all payment information in real time. A connection with the online diaries makes it possible to draw additional information and understand, for example, that this effort corresponds to such a lunch. This enables us to automatically fill out expense report forms in advance.“” explains the CEO of Fintech.
Mooncard also offers extremely fast onboarding. The payment card is available within 24 hours, can be activated for 5 minutes and configured in real time. Due to several development cycles, the startup more than 60 customizable back office criteria.
2020 is a good year for the introduction of new services. The company started in March last year Moon map X., a premium card that gives access to a personal assistant available 7 days a week, 24 hours a day, a dedicated travel agency, VIP status with 60,000 service providers or retailers (landlords, airport lounges, florists, etc.) and unmatched Travel and IT insurance in the market.
This summer is the Mooncard mobility which came on the market: the first French fuel card for business travel, which gives access to 100% of petrol stations, parking spaces and tolls. A card that can also be used at electric charging stations.
European fintechs have the wind in their sails. The Swedish company Klarna is currently the first fintech company on the continent whose valuation exceeds 10 billion euros. The English Revolut closed a financing round of 500 million euros for them last February.