What’s next for Payhawk post Series B?

On November 23rd 2021, we announced that Payhawk, an international payment and expense management software company, has raised a landmark $112 million in our Series B. Firstly, I wanted to say thank you to our investors on behalf of everyone at Payhawk. It's a huge milestone for us and means we’ve just achieved the 8th largest B2B Series B round in Europe. And the second largest in eastern Europe.

Secondly, I wanted to share part of a recent Q and A I had with the team at Payhawk.?

What do we want to achieve post-Series B?

It’s hard to cover everything in one short answer but in a nutshell, our three priorities are:

1. Become the leading European spend and expense management system and continue on our trajectory to grow the fastest.?
2. Attract the top 1% of the talent on the market to ensure our software, innovation, and creativity remains the best in class.
3. Expand beyond Europe into the US, Australia, and Canada.

What were standout actions that helped us scale so quickly?

One key thing was introducing our 3% cashback offer. It's a win-win for customers who get to enjoy the product and avoid fees. The offer allowed us to create additional value for businesses and acquire customers more quickly. Obviously, the more customers spend, the more revenue we make, but it's equal for them too as it creates a brilliant ROI. Finance teams just get an enterprise grade software to manage all company payments free of charge.

How will our customers feel the benefit of the Series B investment?

Our customers are going to see a super-fast acceleration of our current roadmap. We already know the things they need. And now we’ll have access to a bigger pool of tech talent to bring these two things together. Our investors said they were amazed by how much our customers love us. So, it's going to be the same Payhawk that our customers love, but with new features and insights, more currencies and languages, improved efficiencies, and the best finance automation.?

What new problems will we solve?

With the Series B investment, we can expand use cases of the product, create features, and develop new capabilities such as per diems and cheaper international transfers in 50+ currencies including USD. All of which gives the finance team more control, transparency, and time.?

There are a few things that we often hear when we first demo our product. "How can all those things go into a single system?" Or, "Can we really start using it straight away?" Finance teams are surprised that implementation is so easy. We'll make sure that this feeling of simplicity stays at the forefront for our customers and find new ways to improve the user experience.

A big thank you again to our investors and the team. With our Series B funding, we're in a brilliant position to offer more customers the chance to get all-in-one finance software and incredible customer service. Learn more about taking your business finances digital by reading our ebook: How to build your cashless business.?