Payhawk just made history by closing a $ 112 million round just three years after its inception, valuing the company at $ 570 million. In this way, the organization becomes the culmination of second round series B largest in Central and Eastern Europe.
This operation is led by San Francisco-based investor Greenoaks, who has a strong track record of investing in high-growth tech companies such as Gorillas, Robinhood, Stripe and Brex. Previous investors such as QED Investors and Earlybird Digital East have also participated in the round.
Finance teams today are still forced to do a lot of manual work, using multiple disconnected tools to manage expense notes, cards, invoices, and payments. Payhawk reduces manual labor to a minimum, by combining all those key elements in a single platform and thus acting as a single solution for finance teams.
In particular, with high-growth companies looking to digitize their financial processes, Payhawk emerges as the leading platform for large SMEs and enterprises, especially those multinationals that have multiple entities and offices around the world.
3% refund
In 2021, Payhawk has launched 3% reimbursement of all card payments, new enterprise features, free bill pay and Apple Pay, and Google Pay in 30 countries. Since its Series A round, the volume of transactions through the platform has increased by 663% and continues to grow at more than 45% month-over-month. Its clients are both growing companies and large companies in 27 European countries, including Heura, Heycar, Grupo Exoclick, Zartis, Cafés Candelas and Goin.
In 2022, Payhawk will continue its expansion with the goal of opening offices in the United States, the Netherlands, Australia and Singapore, allowing the company to further expand its product offering by introducing credit cards and enabling international bank transfers smarter and cheaper, in addition to its invoice management system.
These expansion and product development plans will be carried out in conjunction with the marketing and sales team, in the key markets of Payhawk, Spain, United Kingdom, Germany and Benelux. To further drive its enterprise focus, the company has appointed Paul Albert as SVP Global Sales, who will lead direct sales, partnerships and customer service.
