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French startup Spendesk reaches Unicorn status

Wednesday 19 January 2022 12:29 CET | News

France-based Fintech startup Spendesk has announced it raised an extension to its Series C funding round with Tiger Global investing an additional USD 114 million.

Following the last round of funding, the company reached a market valuation of over USD 1.14 billion and over EUR 1 billion, which gained it the Unicorn status. 

The French funding market has been accelerating lately, with five startups achieving the Unicorn status in January 2022 alone –Ankorstore, Exotec, PayFit, and Qonto, besides Spendesk. 

Spendesk provides an all-in-one corporate spend management platform for medium companies across Europe. It has originally focused on virtual cards for online payments but since then has expanded its product offer, developing solutions for everything related to corporate spending.

The company helps formalising internal processes, define team budgets, set up complicated approval workflows for expensive payments, and automate certain tasks like VAT extraction. It focuses on mid-market clients or customers with up to 1,000 employees and currently counts for over 3,500 clients across Europe.


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Keywords: Unicorn, funding, fintech, spend management, virtual card, online payments, personal finance management, cashback
Categories: Payments & Commerce
Companies:
Countries: Europe
This article is part of category

Payments & Commerce






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