Payment Solutions Provider Payhawk Receives $112 Million in Funding

Payhawk, one of the fastest-growing payment and expense solution providers, became the latest fintech firm to cross the valuation of $500 million after the company received $112 million worth of funding in its Series B round.

The latest investment is one of the biggest funding rounds for a B2B company in the CEE region. The equity round was led by US investor Greenoaks, who previously invested in high-growth companies like Checkout.com, Robinhood, Stripe and Brex.

Payhawk mentioned that the funding will support the company’s plan to expand its operations through the opening of different offices in the Netherlands, Australia and Singapore. Additionally, Payhawk aims to enhance its marketing and sales team to drive its growth.

“Ask any business owner, and they’ll tell you that managing corporate spending is among the most frustrating parts of running a company. It requires significant manual work that consumes employee time and introduces substantial room for error. Payhawk turns a fragmented process into a seamless one, providing a single place to manage the entire spending lifecycle from company cards to expenses and bill Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term to invoices,” Patrick Backhouse, a Partner of Greenoaks, said.

Payments

Payhawk is currently working on technical solutions related to payments, expense management and invoice management. Founded in 2018, the London-headquartered Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term company has expanded its services substantially in 2021. The recent funding round also saw participation from the company’s existing investors, including QED Investors, Earlybird Digital East and Eleven Ventures.

Hristo Borisov, CEO and Founder at Payhawk, said: "Managing company cards, especially reports, bill payments and invoices is currently a disconnected experience bridged by finance teams through a lot of manual work. We are building enterprise software running on global payments infrastructure that automates all spend processes. Our strong product background and engineering team allow us to move at break-neck speed. This, in turn, will enable global enterprises and fast-growing technology companies to transform how they manage their company spending.”