Spendesk raises €100m Series C round
Spendesk's platform combines payments with virtual and physical cards for employees with automated processes such as expense reimbursements and invoice management.
Paris-based fintech Spendesk, which automates finance processes, has raised €100m in a Series C led by General Atlantic.
Existing investors, including Index Ventures and Eight Roads Ventures, also participated in this round.
The firm, which bills itself as an ‘all-in-one spend management platform for finance teams’, which granular visibility and control over company expenses.
It also includes payments, virtual and physical cards for employees, expense reimbursements, invoice management, automated spend approvals, and budgeting tools.
Spendesk says it will use the new cash to scale its hiring and accelerating product development.
“Work culture is becoming increasingly informed by our private lives. Employees crave more empowerment, agility and faster decision-making to be effective in their roles. And traditionally, finance teams haven’t been equipped with the tools that can support this transformation,” said Spendesk’s co-founder and CEO, Rodolphe Ardant.
Spendesk says it has doubled its revenue over the past despite the pandemic and grown its team from 150 to 300 employees.