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Payhawk, the payments and disbursal solution with offices successful London, Sofia, Berlin and Barcelona, has raised $112 cardinal conscionable 3 years aft its inception, valuing the institution astatine $570m. The Series B circular is led by the San Francisco-based capitalist Greenoaks, who has a beardown way grounds of investing successful high-growth exertion companies specified arsenic Gorillas, Robinhood, Stripe and Brex. All existing investors, including QED Investors, Earlybird Digital East and Eleven Ventures are participating successful the round.
Currently, concern teams are inactive bound to a precocious magnitude of manual enactment arsenic they are utilizing aggregate disconnected tools for cards, payments, invoices and disbursal management. Payhawk reduces the magnitude of manual enactment by combining those cardinal elements successful 1 level and truthful acting arsenic a one-stop-shop for concern teams.
With high-growth companies, successful particular, looking to digitise fiscal processes, Payhawk emerges arsenic the starring level for ample SMEs and endeavor customers, particularly those multinationals who person aggregate offices worldwide.
In 2021, Payhawk introduced 3% cashback connected each payments, caller endeavor features, escaped measure payments, and enactment for Apple Pay and Google Pay successful 30 countries. Since its Series A round, transaction measurement done the level has accrued by 663% and continues to turn astatine 45%+ month-on-month successful October. Its lawsuit basal consists of a premix of scale-ups and corporates successful 27 countries crossed Europe, including A.T.U, Luxair, Flink, Viking Life and Wagestream.
In 2022, Payhawk volition proceed its enlargement by aiming to unfastened offices successful the U.S., the Netherlands, Australia and Singapore, enabling the institution to further grow its merchandise offering by introducing recognition cards and allowing smarter and cheaper cross-border transactions connected apical of its invoice absorption system.
These enlargement and merchandise physique plans volition tally successful tandem with increasing the selling and income squad successful Payhawk’s cardinal markets of the UK, Germany, Spain and Benelux. To further boost its endeavor focus, the institution has appointed Paul Albert arsenic SVP Global Sales, who volition pb nonstop sales, partnerships and lawsuit success.
Patrick Backhouse, a Partner of Greenoaks, said, “Ask immoderate concern owner, and they’ll archer you that managing firm walk is among the astir frustrating parts of moving a company. It requires important manual enactment that consumes worker clip and introduces important country for error. Payhawk turns a fragmented process into a seamless one, providing a azygous spot to negociate the full spending lifecycle from institution cards to expenses and measure payments to invoices. We’ve been thrilled to spot however accelerated they’ve grown, already serving a genuinely planetary lawsuit basal that’s attracted by almighty and delightful software. We deliberation that achy disbursal reports and measure payments should beryllium a happening of the past, and we are excited to spouse with Payhawk connected the mode to getting there.”
Hristo Borisov, CEO and Founder astatine Payhawk, said, “Managing institution cards, particularly reports, measure payments, and invoices is presently a disconnected acquisition bridged by concern teams done a batch of manual work. We are gathering endeavor bundle moving connected planetary payments infrastructure that automates each walk processes. Our beardown merchandise inheritance and engineering squad allows america to determination astatine break-neck speed. This, successful turn, volition alteration planetary enterprises and fast-growing exertion companies to alteration however they negociate their institution spending, and amended efficiencies portion unlocking worker clip to beryllium amended spent elsewhere”