Dublin-based company Soldo has closed $180 million in an oversubscribed Series C funding round.

Soldo's pay and spend automation platform allows businesses to control costs across departments.

The funding round means the company can continue to accelerate product development and market expansion across Europe.

Soldo opened its European headquarters in Dublin in 2020.

Following this funding round, the company said its Irish base will double its initial office size to 24 employees by the end of the year.

The funding was led by Temasek, a leading global investor headquartered in Singapore.

"With a track record of investing in category-leading fintechs, Temasek's insights will be valuable to us as we scale our platform and offering," said Carlo Gualandri, CEO and Founder of Soldo.

"Managing business spend is costly and challenging, yet Soldo continues to demonstrate its value and ease to customers of every size and across every industry," he added.

The round also includes new investors Sunley House Capital, Advent International's crossover fund, Citi Ventures and continued backing from Accel, Battery Ventures, Dawn Capital, and Silicon Valley Bank for debt financing.