Spend management solution Spendesk has raised €100 million as an extension to its latest Series C funding round.
The Paris-based FinTech said this investment brings its valuation to over €1 billion.
The original Series C round, worth €100 million, was announced July 2021.
Spendesk, founded in 2016,said its clients include Soundcloud, Curve, Doctolib, Gousto, Raisin, Sezane, and Wefox.
The new investment was led by US venture capital fund Tiger Global.
All Spendesk’s existing investors, including General Atlantic, Eight Roads Ventures, Index Ventures, and eFounders also participated.
The FinTech said it will use the capital to invest in growing its headcount, with a goal of hiring 300 new people in 2022.
“There is a multi-billion market opportunity ahead for Spendesk, and only a very small number of businesses have opted for a modern spend management solution,” said John Curtius, partner at Tiger Global. “Spendesk has invested in a real end-to-end experience for finance teams early on, which we believe is the winning recipe in this increasingly competitive market.
“We are impressed with Spendesk’s ability to meet rapidly evolving customer needs in a very dynamic environment.”
He added: “This agility and drive to innovate is why we are super excited to be part of the Spendesk journey in 2022 and beyond.”
Latest News
-
Gemini to cut quarter of workforce and exit UK, EU and Australia as crypto slump forces retrenchment
-
Bank ABC’s mobile-only ila bank migrates to core banking platform
-
Visa launches platform to accelerate small business growth in US
-
NatWest to expand Accelerator programme to 50,000 members in 2026
-
BBVA joins European stablecoin coalition
-
eToro partners with Amundi to launch equity portfolio with exposure to ‘megatrends’
Creating value together: Strategic partnerships in the age of GCCs
As Global Capability Centres reshape the financial services landscape, one question stands out: how do leading banks balance in-house innovation with strategic partnerships to drive real transformation?
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories