Founded by Italian tech entrepreneur Carlo Gualandri, Soldo is a business expenses account that allows firms to hand out prepaid cards and mobile apps to their employees.

It’s worth noting that employees cannot sign up for it themselves, companies have to open an account and then invite them to it.

Gualandri has likened the software to ‘Office 365 for money’, with company higher-ups able to keep an eye on all the employees that have cards and accounts.

As well as tracking how much, when and where users are spending, those in charge of the expenses platform can allocate money to users, and set spending parameters for those with the cards, or even turn them off completely.

Gualandri told Yahoo Finance: ‘I could have a budget of £1,000 and I could be restricted to spend £100 a week but online, only in specific countries, and only with specific merchants.’

Card users get access to a mobile app that gives real-time spending notifications and tracks your transactions, though because Soldo has an e-money licence rather than a banking licence cash withdrawals will cost you.

Taking cash out in the UK will cost you £1, while doing so abroad will cost £2 each withdrawal, or £1 if you’re on either of the paid for options.

If you’re going to use the card abroad on a business trip, which is possible given how Soldo operates in the UK, Ireland and Italy, then a two per cent fee is levied.

This is somewhat mitigated by the fact Soldo uses MasterCard’s superior exchange rate.

Soldo offers three versions of its product; a free version, a £3 per card per month ‘pro’ option and a ‘premium’ £7 a month offer.


Pro offers full integration with New Zealand cloud-based accounting software Xero, the ability to issue cards in euros and dollars and automatically top up cards.

Meanwhile, if you do need to prove to your employer that a coffee does cost £2.50 if you’re on a business trip to London then you can attach receipts to transactions, which they can see.

Premium meanwhile more sophisticated spending analytics tools, and a much greater degree of personalisation, though it’s difficult to determine whether that is worth the extra money.


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