Spendesk, a Paris, France-based spend management platform for finance teams, raised €100M in Series C funding.
The round, which brought total funding to €160M, was led by General Atlantic with participation from previous investors Index Ventures and Eight Roads Ventures.
The company intends to use the funds to:
- hire talent
- accelerate product innovation to bring more automation and insights to every aspect of business spending, and
- expand in Europe.
Founded in 2016 by Rodolphe Ardant, Guilhem Bellion and Jordane Giuly within French startup studio eFounders, and also led by recently appointed CPO James Colgan, Spendesk is a SaaS spend management solution that provides visibility and control on all company spending — with every purchase trackable to a person, a project, and a budget. The platform combines payments, processes and data into one dashboard, with virtual and physical cards for employees, expense reimbursements, invoice management, automated spend approvals, and budgets.
The new investment follows a year of growth as the company doubled its revenue, and grew the team from 150 to 300 employees. Spendesk now serves 3,000 businesses such as Algolia, Soundcloud, Curve, Doctolib, Gousto, Raisin, Sezane, Wefox.
FinSMEs
21/07/2021