Payhawk, a Bulgarian-founded expense management platform, has reportedly been seeking to raise more than USD 100 million in fresh funding.
The move is intended to support product expansion, geographic growth, and deeper integration across corporate finance systems. The funding effort underscores investor confidence in enterprise-focused fintech solutions despite intense competition from artificial intelligence-driven startups.
Founded in 2018, Payhawk provides an all-in-one platform that automates employee expenses, corporate cards, travel costs, and supplier payments. Its software replaces fragmented, manual processes with a centralised system that offers real-time visibility, spend controls, and compliance oversight. This positioning aligns with the growing demand from multinational organisations seeking scalable solutions to manage complex financial operations across borders.
The broader market context supports Payhawk’s ambitions. Global digital payment transaction value was projected to exceed USD 10.77 trillion, with industry forecasts projecting sustained growth. At the same time, business-to-business cross-border payments are expanding rapidly as companies adopt distributed work models and operate across multiple jurisdictions. In Europe, regulatory initiatives such as mandatory electronic invoicing are accelerating digital transformation, compelling enterprises to modernise legacy financial infrastructure.
Expansion strategy and the European fintech landscape
Payhawk’s fundraising plans follow a series of strategic initiatives aimed at strengthening its presence across Europe. The company has previously collaborated with partners to improve electronic invoicing capabilities, helping businesses comply with evolving tax and reporting requirements. These integrations reflect a broader trend in fintech, where platforms expand functionality through partnerships rather than building every capability in-house.
European fintech continues to demonstrate resilience, particularly in enterprise software segments such as expense management and payments automation. Market research estimates that the global expense management software market will grow at a compound annual growth rate of more than 12% over the next five years. This growth is driven by increased corporate travel, subscription-based operating models, and heightened scrutiny of spending efficiency during periods of economic uncertainty.
Operational inefficiencies remain a persistent challenge for businesses. Studies show that companies relying on manual expense processes face higher error rates, slower reimbursements, and limited financial transparency. Disconnected systems often result in data silos, making it difficult for finance teams to enforce policies, detect anomalies, or ensure regulatory compliance. These challenges increase financial risk and administrative costs, particularly for organisations operating at scale.
Virtual corporate cards have gained traction as a way to improve spend control, but their effectiveness is better when integrated into a comprehensive financial platform. Unified systems provide centralised data, automated reconciliation, and real-time reporting, reducing the risk of fraud and compliance violations while improving operational efficiency.
By targeting a USD 2 billion valuation and pursuing additional funding, Payhawk aims to reinforce its position in the enterprise fintech market. As digital transactions, regulatory complexity, and global operations continue to expand, demand for integrated expense management solutions is expected to grow.
