London, United Kingdom:
- European-born fintech Payhawk introduces its main spend administration resolution to the US market to help world scaleups and enterprises with places of work in a number of international locations
- In response to market calls for, and with greater than 10% of its buyer base already subscribed to a ready checklist, the corporate launches its first credit card product within the US
- The US credit playing cards will run alongside its current playing cards within the UK and Europe to help world scaleups in 32 international locations
- The entry into the US market comes off the again of a report 12 months of development for Payhawk, through which income has grown by over 520%, and worker headcount by over 250%
Payhawk, the spend administration resolution with a presence throughout the UK and Europe, formally launches within the US at present. The unicorn has opened an office in New York and is introducing a US credit card to help corporations with a number of places of work throughout the UK, Europe, and the US. The US launch is a key a part of Payhawk’s growth technique, following a report 12 months of development that has seen its income develop 524%, and its worker headcount develop 250%, 12 months up to now.
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Payhawk co-founders Konstantin Djengozov CFO (left), Hristo Borisov, CEO (heart), Boyko Karadzhov CTO (proper) (Photo: Business Wire)
The transatlantic growth implies that not solely is Payhawk’s spend administration resolution now accessible to US clients, however by providing a mixture of credit playing cards and debit playing cards, it turns into the primary and solely business within the area to supply probably the most outstanding card sorts in every market. This permits finance groups to make use of a single spend administration resolution throughout totally different continents. With greater than 2.6m companies with over 100 staff throughout the UK, Europe, and the US, Payhawk is properly positioned to serve these with overlapping operations between the 2 continents.
Alongside its distinctive world footprint, Payhawk differentiates itself by means of its sturdy enterprise focus. It affords market-leading native integrations with a number of enterprise ERP methods for real-time reconciliation, spending coverage options to assist finance leaders implement governance and management at scale, and the flexibility to handle a number of worldwide entities in a single platform. To date, Payhawk already serves scaleups and enterprises in 32 international locations.
With the launch of its first credit product within the US, Payhawk’s product providing is carefully aligned with company buying habits in every area. The US VISA credit card enjoys excessive world acceptance, credit limits as much as $250,000 USD and customizable spend insurance policies.
Starting at present, clients have the flexibility to enrol onto a ready checklist for as much as a 1.5% cashback* providing, with the primary clients going stay in October. To additional reveal its dedication to the US SaaS market, Payhawk can also be sponsoring SaaStr Annual in Silicon Valley.
Hristo Borisov, co-founder and CEO, Payhawk, mentioned: “Our objective is to give attention to offering the very best resolution available on the market for world scaleups and enterprises. Naturally, these companies have a world presence, and we need to cater for that. Today, greater than 10% of our buyer base is already on a ready checklist for our US credit card.
A major proportion of scaling corporations in Europe have US operations, and earlier than at present, they have been compelled to make use of a number of credit card issuers, making the controlling and reconciliation course of for finance groups a nightmare. The identical is true for US corporations with European operations the place the variety of currencies and fee methods will be daunting.
Our growth to the US is yet one more thrilling step on our journey to higher help our worldwide consumer base, and simplify the tech stack of world finance groups.”
* Up to 1.5% cashback on card funds capped at your subscription.
About Payhawk
Payhawk is the main world spend administration resolution for scaling companies. Headquartered in London and combining firm playing cards, reimbursable bills and accounts payable right into a single product; its future-facing expertise permits finance groups to regulate and automate firm spending at scale.
The Payhawk buyer base contains fast-growing and mature multinational corporations in 32 international locations together with LuxAir, Gtmhub, and Wagestream. With places of work in New York, London, Berlin, Barcelona, Paris, Amsterdam and Sofia; Payhawk is backed by famend traders reminiscent of Lightspeed Venture Partners, Greenoaks, QED Investors, Earlybird Digital East, and Eleven Ventures.
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