About Weel
Weel is a company based in Sydney (Australia) founded in 2016 by Russell Martin and Daniel Kniaz. It operates as a SaaS (Software-as-a-Service), and FinTech. Weel has raised $23.25 million across 3 funding rounds from investors including Rapyd, Global Founders Capital and Raffael Johnen. Weel offers products and services including Corporate Cards, Accounts Payable, Subscription Management, Reimbursements, and Expense Management & Reporting. Weel operates in a competitive market with competitors including Sodexo, Marqeta, Kamelpay, Budgetly and 247 Billing, among others.
- Headquarter Sydney, Australia
- Founders Russell Martin, Daniel Kniaz
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Sectors
TechnologyTravel & Hospitality Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Weel Holdings Pty Ltd
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$23.25 M (USD)
in 3 rounds
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Latest Funding Round
$20 M (USD), Series A
Dec 12, 2021
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Investors
Rapyd
& 6 more
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Employee Count
Employee Count
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Products & Services of Weel
Weel offers a comprehensive portfolio of products and services, including Corporate Cards, Accounts Payable, Subscription Management, Reimbursements, and Expense Management & Reporting. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Virtual corporate cards are issued instantly with controls.
Invoice payments are streamlined with automation and approvals.
Subscription payments are managed with visibility and control.
Employee reimbursements are processed quickly and effortlessly.
Expense reporting is enhanced with compliance and tools.
Funding Insights of Weel
Weel has successfully raised a total of $23.25M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $20 million completed in December 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series A — $20.0M
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First Round
First Round
(30 Sep 2019)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2021 | Amount | Series A - Weel | Valuation | Global Founders Capital , Rapyd | |
| Apr, 2021 | Amount | Series A - Weel | Valuation | 1835i | |
| Sep, 2019 | Amount | Series A - Weel | Valuation | 1835i |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Weel
Weel has secured backing from 7 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Rapyd, Global Founders Capital and Raffael Johnen. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital firm focused on early-stage startups
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Founded Year | Domain | Location | |
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A venture capital firm focused on financial technology innovators is operated.
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Founded Year | Domain | Location | |
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Venture capital is directed to small businesses by corporate-backed fund.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Weel
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Weel
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Weel Comparisons
Competitors of Weel
Weel operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Sodexo, Marqeta, Kamelpay, Budgetly and 247 Billing, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Employee benefits payment cards are provided via an online platform.
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| domain | founded_year | HQ Location |
Card-issuing and payment processing solutions are offered to businesses.
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| domain | founded_year | HQ Location |
Financial benefits for businesses are managed via a mobile app.
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| domain | founded_year | HQ Location |
Automates expense tracking, budgeting, and spend management for businesses.
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| domain | founded_year | HQ Location |
Offers app-based credit card processing solutions for individuals and businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Weel
Frequently Asked Questions about Weel
When was Weel founded?
Weel was founded in 2016 and raised its 1st funding round 3 years after it was founded.
Where is Weel located?
Weel is headquartered in Sydney, Australia. It is registered at Sydney, New South Wales, Australia.
Who is the current CEO of Weel?
Daniel Kniaz is the current CEO of Weel. They have also founded this company.
Is Weel a funded company?
Weel is a funded company, having raised a total of $23.25M across 3 funding rounds to date. The company's 1st funding round was a Series A of $1.55M, raised on Sep 30, 2019.
What does Weel do?
Weel is established as a comprehensive platform for corporate card issuance and spend management, primarily serving businesses in Australia and New Zealand. Solutions are provided for expense management, accounts payable automation, subscription management, and employee reimbursements. Various industries including not-for-profit, education, startups, and construction are catered to with tailored financial tools. Integration with accounting and ERP systems like Xero and NetSuite is supported to streamline financial operations. Real-time control and AI-powered automation are utilized to enhance efficiency and compliance across small, medium, and large enterprises.
What products or services does Weel offer?
Weel offers Corporate Cards, Accounts Payable, Subscription Management, Reimbursements, and Expense Management & Reporting.
Who are Weel's investors?
Weel has 7 investors. Key investors include Rapyd, Global Founders Capital, Raffael Johnen, Guy Pearson, and Seed Space Venture Capital.
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