Soldo
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Soldo is one of Europe's largest spend management platforms by company count, serving 25,000 businesses across 31 European countries and holding registrations with the UK Financial Conduct Authority (FCA), as well as with regulators in Ireland and Italy. As an electronic money institution rather than a bank, Soldo's client funds are safeguarded under financial protection rules but not covered by a traditional bank deposit insurance scheme. The platform combines physical cards, virtual cards, and a suite of controls designed to let teams spend autonomously while giving finance teams real-time visibility and approval authority. Soldo's client roster spans organizations like Secret Escapes, Sony, Toyota, and Age UK, reflecting both the breadth of industries using it and the range of company sizes, from SMEs to multinational groups.
The Soldo model starts with card issuance but extends far beyond just handing out plastic. You can issue physical debit cards to employees for in-person spending, virtual cards for online transactions, and fuel cards for fleet management, all controlled from a single dashboard. Each card type serves a specific job: a physical card works for grocery runs and local vendor payments, a virtual card can be spun up in seconds and set to expire after a single use for contractor payments or SaaS trials, and fuel cards integrate with fuel stations across Europe and lock spending to fuel only. Unlike services that issue one card per person, Soldo lets you issue multiple cards per employee if your workflow demands it (separate cards for personal expenses and company expenses, for instance, or different cards for different projects). This granularity appeals to businesses that want spending power distributed across teams without a corresponding explosion of approval requests.
Budget controls on Soldo are rule-based rather than pre-approval. You set spending limits at the user, team, department, or project level, and also by transaction category: one employee might have a €2,000 weekly limit for meals and entertainment but a €500 limit for office supplies, while another person has unlimited access to certain categories and tight limits on others. Spending limits can be weekly, monthly, or rolling, and you can pause or adjust them from the app without waiting on customer support. Real-time alerts notify managers when a limit is approached or exceeded, and team leads can see exactly which people have spent what and flag unusual patterns. This shift from requiring pre-approval before every transaction to operating within set rules and reviewing spending after the fact changes how teams operate, especially in organizations where approval bottlenecks were slowing down work.
Soldo's approval workflow is event-driven: you set up rules once, and then transactions flow through them automatically. A team member's transaction under €500 might auto-approve, transactions between €500 and €5,000 route to their manager, and anything larger gets flagged for the CFO. Expense claims from employees (submitted through the mobile app with receipts) flow through the same workflow, so reimbursements and card transactions use the same approval path. For larger organizations with complex governance, you can layer rules by department, cost center, or project, and even require multiple signoffs for high-value transactions. Managers and approvers get notifications in real-time and can approve, reject, or request more information without leaving their email or team chat.
The expense management component of Soldo captures receipts via the mobile app, automatically categorizes transactions, and syncs them into your accounting software. Employees photograph a receipt, tag it with a cost center or project, and Soldo reads the line items and totals using machine learning. The app suggests the accounting category based on the merchant type and your historical patterns, which employees can confirm or override. This approach eliminates the traditional end-of-month scramble where employees dig up crumpled receipts and try to remember what each charge was for. Accountants see every transaction categorized and ready to post, and reconciliation time drops significantly because card transactions and expense claims are already coded before they reach the ledger.
Reporting and analytics on Soldo center on spend visibility and forecasting. The dashboard shows you total spend by category, department, project, or cost center in real-time, letting finance teams spot trends and alert budget holders if they're on pace to exceed their allocation. You can generate custom reports for specific departments or cost centers and export them to your accounting or analytics tools. The platform also offers scenario planning: you can model what would happen if you changed budget limits or adjusted approval rules, and see how that would affect your operations. For companies that need to track spend by project or customer (like consulting firms or agencies), Soldo lets you tag transactions at the point of sale, so billable expenses are automatically captured for invoicing.
Integrations on Soldo span accounting systems, ERP platforms, HR software, and travel expense tools. You can sync transactions directly into Xero, QuickBooks, Sage, or other accounting packages, pulling real-time data rather than batch-loading end-of-month files. HR platforms like BambooHR and Personio receive employee data, keeping your team lists and access controls in sync. Travel management platforms like Concur and Expensify receive expenses and build them into their own reporting flows. If you use a specialized tool for project accounting or client invoicing, Soldo's API lets you pull spend data and build custom workflows. This integration-first approach reflects the reality that most teams have existing systems they trust, and they want their new spend platform to be a data source, not a data silo.
Soldo's distinctive strength is breadth: its combination of physical cards, virtual cards, fuel cards, and real-time approvals works well for organizations with heterogeneous spending patterns. A business that needs to give spending power to warehouse staff (physical cards for vendor purchases), office managers (virtual cards for SaaS and supplies), and delivery drivers (fuel cards) can do all of that in one platform. The approval workflow engine is sophisticated enough to handle complex governance (approval hierarchies, cost center controls, category limits) without becoming unmanageable. For companies with operations in multiple European countries, Soldo's presence across 31 countries and multi-currency support mean you can issue cards in the local currency of each operation and manage them from one place.
Companies that report 80% time savings on finance operations after switching to Soldo typically had significant approval bottlenecks before: people were asking for cash advances, submitting expense reports weeks late, and finance teams were chasing receipts and manually categorizing everything. Soldo removes each of those friction points. It also appeals to businesses scaling headcount or geographic footprint, where the old model of employees using personal credit cards followed by monthly reimbursement breaks down, but building an expense approval system from scratch seems heavy. For organizations with tight cash flow, the ability to control spending in real-time rather than paying out reimbursements weeks after the fact also matters.
Soldo has built a mature, well-integrated spend management platform that handles the real complexity of how European businesses operate. It issues cards you actually use, enforces budgets and approvals that work, and connects to the accounting systems that matter. If your team issues cards today but struggles with approval delays, receipt chasing, or expense reimbursements, Soldo addresses the workflow problems head-on.