Payhawk lands $112 million

The Series B round was led by a San Francisco investor.

Start-up Payhawk raised $112 million just three years after its founding, boosting its enterprise value to $570 million. The corporate credit card company has offices in Berlin, London, Sofia and Barcelona. It started in Bulgaria, and the German market is one of its main focuses.

The Series B round is led by San Francisco-based investor Greenoaks. The firm had previously invested in tech companies such as Gorillas, Robinhood, Stripe and Brex. All of the existing investors, including QED Investors and Earlybird Digital East, also re-invested.

"Today, managing corporate cards, expense reports, and bill payments is often still a fragmented process that finance teams stitch together through manual extra work," said Payhawk CEO Hristo Borisov. "We're developing enterprise software based on a global payments infrastructure that automates all spend processes." Patrick Backhouse, partner at Greenoaks, is optimistic about the company's future: "We're excited about how quickly the company has grown and already serves a global customer base."

Payhawk claims to want to reduce the workload for corporate finance departments. It says it can do this by unifying software tools for managing payments, invoices and expenses. The solution has become the world's leading platform for large mid-sized and multinational companies with multiple offices, according to the company.

Like it? Please spread the word:


Startups, stories and stats from the German startup ecosystem straight to your inbox. Subscribe with 2 clicks. Noice.

LinkedIn Connect

Take care, give care

Did this news inform or entertain you? Then we would be happy if you tell your network about it.

Share on Linkedin Share on Facebook Share on Xing

Related companies

Investor 1997 Berlin
Earlybird is a venture capital investor focused on European technology innovators.
Startup 2020 Berlin
Supply of food at retail prices.

FYI: English edition available

Hello my friend, have you been stranded on the German edition of Startbase? At least your browser tells us, that you do not speak German - so maybe you would like to switch to the English edition instead?

Go to English edition

FYI: Deutsche Edition verfügbar

Hallo mein Freund, du befindest dich auf der Englischen Edition der Startbase und laut deinem Browser sprichst du eigentlich auch Deutsch. Magst du die Sprache wechseln?

Deutsche Edition öffnen

Similar posts