Choosing the right spend-management platform matters more than it seems. For finance teams, the difference between direct card issuing and third-party setups, or between flat pricing and per-seat billing, can decide whether the system becomes a cost-saver or another headache. Two names stand out in Europe right now: Wallester Business and Pleo. Both simplify company spending, but they take very different routes.
Company background
Wallester launched in 2016 in Tallinn, Estonia. It is licensed as a Visa Principal Member, meaning it issues cards directly. That detail makes a difference: no extra middlemen, faster product changes, and fewer unknown fees. The company serves businesses across the EEA and the UK.
Pleo started a year earlier in Denmark. It has grown quickly, especially in Northern Europe and the UK. In Britain, cards are issued through B4B Payments, while in the rest of Europe they come via Pleo’s own regulated entity. The set-up works, but the reliance on an external issuer in the UK adds an extra layer between customer and card scheme.
Side-by-side comparison
For a quick snapshot, here’s how the two platforms line up in 2025:
| Feature | Wallester Business | Pleo |
| Founded | 2016, Estonia | 2015, Denmark |
| Card issuing | Direct Visa Principal Member | UK: via B4B Payments, EU: via Pleo’s EMI |
| Market reach | EEA + UK | UK + EU |
| Virtual cards | 300 free on Free plan, more available | Included, but capped by plan |
| Physical cards | Unlimited issuance | Available, limits by plan |
| Users | Unlimited, no per-seat billing | 3 seats included, extra cost per user |
| Onboarding | Quick, often within hours | Starter/Essential self-serve; Advanced/Beyond require demo |
| Currencies | 10 supported; no issuer FX markup | FX markup 2.49% → 1.49% depending on plan |
| Cashback | None | 0.5% (Advanced), 0.75% (Beyond) |
| Invoice management | Incoming invoices only: capture, store, export | Expense automation + invoice capture + reimbursements |
| Payroll cards | Available (mass payouts) | Not available |
| Pricing model | Free plan plus optional paid tiers | Paid subscription: £9.5 → £179/month per user |
| Accounting integrations | API, exports to major tools | Native integrations (Xero, QuickBooks, NetSuite, etc.) |
| Support | Chat/email; dedicated manager on higher tiers | Tier-based, phone/chat only on higher plans |
Cards and user access
Wallester’s offer is straightforward: 300 virtual Visa cards at no cost, plus the option to issue as many physical cards as a company needs. There are no seat limits. A small team and a 200-person agency both get the same baseline. Onboarding is quick, often done within hours.
Pleo, by contrast, sells software on a per-user basis. Every plan includes three seats, but anything beyond that costs extra. The Starter and Essential plans are available via quick online signup, but Advanced and Beyond usually involve a sales call. For small teams the limits are fine; for larger groups the extra licensing starts to weigh.
FX fees and currencies
Currency conversion is one of the most visible differences. Wallester supports ten major currencies and applies no issuer markup on top of Visa’s exchange rate. That gives predictable international spend without surprise add-ons.
Pleo applies a markup that varies by plan: 2.49% on Starter, 1.99% on Essential and Advanced, and 1.49% on Beyond. The higher the plan, the lower the cut, but the charge remains in place across the board.
Rewards and extras
Wallester doesn’t offer cashback, but its value shows up elsewhere. Card issuance is built in at scale: 300 virtual cards on the Free plan and no per-seat charges for users. For teams that need hundreds of cards, the savings come from avoiding both card fees and licensing costs.
Pleo takes another approach. Its higher plans include cashback – 0.5 percent on Advanced and 0.75 percent on Beyond. The credit lands in the account each month and can partly balance out FX markups and subscription fees, especially for companies with heavy card spend.
Invoicing and expense tools
Wallester focuses on company spending done through its cards. It offers invoice management for incoming supplier bills, which can be uploaded through the app or web dashboard and then stored or exported to accounting software. Payroll cards are also available for bulk payouts, giving finance teams an additional way to manage expenses directly within the platform.
Pleo extends its scope beyond card transactions. Alongside invoice capture, it includes reimbursements for out-of-pocket employee expenses and approval workflows. Native integrations with systems like Xero and QuickBooks make it attractive for firms that want expense automation tightly woven into their existing accounting setup.
Pricing and support
Wallester runs on a freemium model. The Free plan includes 300 virtual cards and unlimited users, with extra features such as advanced reporting or premium support available on paid tiers. Support starts with chat and email, and dedicated account managers are added on higher levels.
Pleo has four subscription tiers. Starter is £9.50 per month on a yearly contract, Essential is £39 (or £45 if billed monthly), Advanced is £89 (or £99 monthly), and Beyond is £179 (or £199 monthly). Each plan includes three users, while Beyond raises the allowance to five. Additional users are charged separately, so costs increase with headcount. Support also scales by tier, with phone access reserved for the higher plans.
Who each works best for
Wallester is a good fit for companies that want to issue a lot of cards quickly, keep FX costs under control, and avoid the tangle of per-user billing. Agencies, marketing teams, and operations managers often fall into this group.
Pleo suits firms that value polished automation, easy integrations, and a familiar software subscription model. Its cashback can offset some costs, but the FX markup and seat charges need to be factored into budgets.
The bottom line
Both Wallester and Pleo help companies replace old-fashioned expense reports with real-time visibility. The difference lies in structure. Wallester leans on direct issuing and scale, Pleo on software experience and cashback. For smaller teams with simple needs, Pleo’s design is appealing. For larger or fast-moving organisations, Wallester’s direct control and cost structure may make more sense.
