Spendesk, a Paris, France-based spend management platform for small to mid-sized businesses (SMBs), raised €35M in Series B funding round.
The round, which brought the total raised to €45M, was led by Index Ventures.
The company intends to use the funds for product development (by adding features including smart analytics, support for more international currencies, wire transfers, and strategic partnerships with complementary services such as TravelPerk) and international expansion(with new offices opening in London and Berlin).
Led by Rodolphe Ardant, CEO and Founder, Spendesk provides a platform that combines virtual and physical payment methods with approval workflows, automatic receipt capture, real-time spend analysis and invoice management.
Finance teams also benefit from reporting and accounting integrations.
More than 1,500 companies across Europe use Spendesk including Seedrs, Houzz, Bulb or Moneybox.