[FW Radar] Mooncard, the payment card that replaces expense reports
Launched in March 2016 by Damien Metzger, Christophe Cremer and Tristan Leteurtre, Mooncard offers a payment card to replace expense reports.
More details with Tristan Leteurtre, president of Mooncard.
FrenchWeb: What needs does your service meet?
Tristan Leteurtre, president of Mooncard: Among the French companies in activity, more than 80% are confronted with problems of costs and issues of payment. To deal with this situation, Mooncard offers companies of all sizes a complete, innovative and secure solution that definitely frees them from the constraints of expense management and expense reports. On average, the company spends around 3 to 4 hours per month managing the expense reports and professional expenses of each employee with a processing cost of 240 euros per month.
What’s your value proposition?
Faced with this observation, we have invented a complete expense management solution, from payment to accounting.
Made up of a new generation payment card controlled in real time, we allow companies to benefit from the revolution in payment methods in their daily management.
Thanks to this solution, companies can improve their visibility on expenses, optimize their accounting and realize real savings directly impacting their results (management savings of 70% for employees and accountants).
Who are the users of your solutions?
Managing expense reports is a daily headache that affects all businesses and freelancers, whatever their sector of activity (consultants, liberal professions, self-employed people, etc.). In a company of 10 people, salespeople and accountants save 3 days a month. That is about 1,800 euros in savings per employee and per year. We also allow employees to no longer pay with their personal money: this is a real pain point in SMEs. This is why we quickly achieve unanimity among clients: it is one of the only solutions that appeals to managers, accountants and employees alike!
Who are your competitors?
For 10 years, the offer has been structured around two types of players: classic corporate bank cards, and expense report software: these are very separate worlds. Only American Express has combined these two worlds. But the coverage in France and Europe is insufficient. This is why we believe that our Mastercard + software combination is of definite interest: creating value for companies and providing control that no card had previously offered, with our real-time configuration system.
What is your development plan?
The world of corporate payments has been neglected for 20 years, we estimate that in France alone, 650,000 companies are faced with inefficient management of their payments and expense reports. The combination of a payment card with software opens the door to many services in the company: financial and payment services, insurance, accounting. We started with the configurable card, but other services will be announced in 2017! And we are planning to open new countries: Benelux, Germany, Italy and Spain.
What are your challenges?
Our ambition is to free the 2 million French managers and employees. Our goal is to deploy between 100,000 and 200,000 cards within three years. All the managers, employees and accountants that we meet express a strong need, because the current offer is clearly insufficient. We want to keep a strong lead in our technology: the automatic filling of fees (transactions, emails, agenda) by improving the intelligence of our systems. In addition, accounting management and control are key factors for mass adoption of companies: our roadmap adds new accounting software and control functionalities every week.
Founders: Damien Metzger, Christophe Cremer and Tristan Leteurtre
Creation date : march 2016
Fundraising : 750,000 euros with business angels
Seat : Paris
Read also: These start-ups that are tackling expense management