Ben Swails, GM Northern Europe, Pleo
Today we're meeting Ben Swails, GM Northern Europe at Pleo. The company specializes in business spend management solutions including smart company cards, automated expense reporting, and invoice management.
Over to you Ben - my questions are in bold:
Who are you and what's your background?
I serve as Pleo's General Manager for Northern Europe. My career began in healthcare sales, where I spent nearly a decade supporting medical professionals in sourcing essential equipment. This experience instilled in me the importance of building strong relationships and cultivating deep product expertise.
I later transitioned to the SaaS industry, initially focusing on healthcare solutions before expanding into broader markets. Joining Pleo was a natural progression, as my expertise in building scalable systems aligns perfectly with Pleo's mission to revolutionise business spending and financial management.
What is your job title and what are your general responsibilities?
As General Manager, I lead regional operations, drive growth, and oversee a high-performing team. My responsibilities include developing strategies aligned with Pleo's mission, fostering strong customer relationships, and ensuring our platform evolves to meet the ever-changing needs of businesses.
Can you give us an overview of your business?
Pleo streamlines business spending for companies of all sizes by offering a modern platform that includes smart company cards, automated expense reporting, invoice management and real-time spending insights. Our mission is to eliminate the inefficiencies of traditional spend management and empower businesses with enhanced financial control, transparency, and visibility.
Tell us how you are funded.
Pleo is venture capital-funded and has raised a total of DKK 2.7B (approximately EUR 370M / USD 400M) through private funding rounds since its formation in 2015. This investment has enabled Pleo to develop our platform and scale operations and we're seeing extensive growth across the business which is exciting to be a part of.
What's the origin story? Why did you start the company?
Pleo was founded by Jeppe Rindom and Niccolo Perra to address the inefficiencies of traditional expense management, making it more effective for both employees and finance teams. The platform automates tasks such as receipt capture and expense categorisation, saving businesses time and money.
Pleo also enhances the employee experience by offering greater autonomy and independence in managing expenses. For finance teams, it provides improved control and streamlined processes, enabling them to operate more efficiently. We've since extended from expense management to a fuller business spend management solution, meaning that businesses have all of their spend data in real-time and in one place. Ultimately, Pleo is dedicated to fostering a company culture that values autonomy, innovation, and entrepreneurial thinking.
Who are your target customers? What's your revenue model?
Our primary customers range from SMBs to mid-market enterprises. We operate on a subscription-based revenue model, with businesses paying based on their usage and the size of their teams.
If you had a magic wand, what one thing would you change in the banking and/or FinTech sector?
If I had a magic wand, I would accelerate the alignment between fintech innovation and regulatory frameworks. While regulations are critical for ensuring stability, security, and trust in the financial system, they often lag behind the rapid pace of technological advancements. This misalignment creates friction, hindering businesses' ability to innovate and preventing consumers from fully benefiting from new fintech solutions.
By enabling regulatory frameworks to adapt more swiftly to technological progress, we could reduce these barriers, fostering seamless integration of innovative services while maintaining the essential safeguards needed for a secure and trusted financial ecosystem.
What is your message for the larger players in the Financial Services marketplace?
Embrace collaboration with fintechs to drive innovation. The financial ecosystem thrives when traditional institutions and fintech companies work together to solve challenges and enhance customer experiences.
Where do you get your Financial Services/FinTech industry news from?
I like to mix it up with a few trusted sources, from podcasts to news outlets and industry reports but I do a lot of travel so podcasts are my preferred medium- 11:FS is always a great listen and Breaking Banks is great, more for overall Fintech topics rather than news.
Can you list 3 people you rate from the FinTech and/or Financial Services sector that we should be following on LinkedIn, and why?
Leda Glyptis is a fantastic journalist. Her content is really refreshing and she writes with great humour. Marcel van Oost has his finger very much on the pulse of fintech too.
What FinTech services (and/or apps) do you personally use?
Being from the US, Venmo is huge – It's perfect for sending money between friends and small businesses. It's simple but they've just got it right -simple, efficient and fast. It just does what it's supposed to do without overcomplicated things. We need more tools in Fintech like that!
What's the best new FinTech product or service you've seen recently?
It's from late last year but the Instant Saver Reward from Atom Bank is a great example of how digital-first banks are taking traditional banking and leading the way in offering better products for consumers. For me it highlights their commitment to providing value, simplicity, and flexibility in consumer finance-where it's very much needed!
Finally, let's talk about predictions. What trends do you think are going to define the next few years in the FinTech sector?
The fintech industry will be defined by two major trends: evolving regulations and the integration of AI. Successfully navigating complex regulatory landscapes will demand innovation that upholds compliance without stifling progress. At the same time, AI has the potential to transform financial processes, but its success will hinge on achieving the right balance between automation and the human touch.
Fintech companies that embrace AI responsibly, fostering trust while preserving creativity and human oversight, will be best positioned to thrive in this dynamic landscape.
Thank you very much Ben!
Read more about Ben on LinkedIn and find out more about Pleo at www.pleo.io.