Funds and expense administration agency Payhawk has added $100 million to its Sequence B spherical, now standing at $215 million, and in a lot, offers the corporate with a $1 billion valuation and Bulgaria with its first unicorn.
As a testomony to the corporate’s quickly accelerating velocity, this Sequence B extension arrives solely three months after the corporate’s preliminary announcement of $115 million, a funding spherical that was introduced solely 7 months because the closing of a $20 million Sequence A spherical.
Based in 2018 Payhawk goals to simplify the lives of the finance departments by unifying a collection of disjointed instruments used to handle playing cards, funds, invoices, and bills.
The startup acts as a one-stop-shop and reduces the guide processes, in addition to offers finance groups the flexibility to maintain an in depth eye on budgets, all in real-time.
Between April and November of final yr, Payhawk reported a rise in transaction volumes by 663% and a continued development price of 45%+ month-on-month between September and October.
Amongst its buyer base, the startup counts manufacturers A.T.U, Luxair, Flink, Viking Life, and Wagestream, and is offering providers in some 30 off nations across the globe.
Payhawk’s Sequence B extension spherical was led by Lightspeed Enterprise Companions with Sprints Capital, Endeavor Catalyst, HubSpot Ventures, and Jigsaw VC additionally collaborating.
Present traders together with QED Buyers and Earlybird Digital East additionally participated.