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Railsbank client Cledara among fastest ever startups to launch own-branded Mastercard

Mastercard Debit Card to launch only 99 days after incorporation

Cledara will launch its own-branded virtual Mastercard Debit Card tomorrow on stage at SaaStock, one of Europe’s largest and most prominent technology conferences. Cledara has reached this milestone with Railsbank's help just 99 days after incorporating, making it among the fastest ever startups to launch its own Mastercard.

Nigel Verdon, CEO and co-founder of Railsbank, said: “One of Railsbank’s core objectives is to accelerate the pace of innovation in financial services for the benefit of the real economy. With Railsbank technology, Cledara will help businesses embrace modern cloud-based software and improve productivity, while maintaining control over software spend.”

Cristina Vila, founder of Cledara, said: “From our very first discussions with prospective customers, it was clear that there was massive demand from companies needing a better way to manage their cloud-based software. Traditionally, a fintech startup would take six to nine months to get to market, but we wanted to see if we could capitalise on the demand and find a way to get Cledara into our customers’ hands as quickly as possible.” Cledara was incorporated on 9 July 2018 and was able to launch quickly largely as a result of its partnership with Railsbank.

This year companies will waste more than $20 billion on cloud-based software that they’re not using, or don’t remember subscribing to. Cledara puts companies back in control of their cloud-based software by:

  • Capturing all cloud-based software used by a company, including which team members are using each tool, why it’s needed and how much it costs;

  • Providing a unique virtual Cledara Mastercard Debit Card to pay for each software so spend is tracked; and

  • Enabling one-click cancellation of unwanted software, by cancelling the associated unique Cledara Mastercard.

Cledara is available to companies in the UK and Europe and supports one-click cancellation of subscriptions to the majority of cloud-based software available globally.

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