Finance teams often juggle a number of disconnected tools to manage the company's spend, with expense management, invoicing, company cards and subscriptions covered by different software packages. These aren't really designed to interact with one another, which can cause friction and create a lot of manual work. Payhawk is changing this with a unified platform to replace all individual B2B payments services, allowing a company to manage its expenses in a single place.
Operating mainly in Europe and the UK, Payhawk competes with the likes of Spendesk and Revolut Business. Where Payhawk stands out is in its flexibility in how its customers can configure its workflows, and its attentive and rapid customer support. This has seen it grow a large international customer base including the likes of Wagestream, LloydsDirect and Vinted to name a few.
Payhawk closed the second phase of its Series B funding round in 2022, with a valuation that made it the first ever Bulgarian unicorn. It has used this funding to open new offices in Paris, Amsterdam and New York as it launched its expansion into the US market. It will continue to develop its product and hire new talent, planning to grow its UK headcount by 44% in 2024 off the back of massive growth in 2023.
Kirsty
Company Specialist at Welcome to the Jungle