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Spendesk bags €100m

Spendesk bags €100m

French spend management platform Spendesk has raised €100 million in Series C funding led by global growth equity firm General Atlantic.

Spendesk provides finance teams with an SaaS spend management system for full visibility and control on all company spending — with every purchase trackable to a person, a project, and a budget.

The platform combines payments, processes and data, with virtual and physical cards for employees, expense reimbursements, invoice management, automated spend approvals, and budgets.

Having seen revenues double, its customer base reach 3000, and its headcount hit 300 over the last year, the firm will use the new funding to continue hiring and develop its products.

Rodolphe Ardant, CEO, Spendesk, says: "In the past few years we have built the reference spend management solution for finance teams in Europe, which frees businesses and their people from administrative constraints of spending and managing money at work.

"While our solution is about empowering finance teams, we are actually delivering value to the entire business through the finance team.”

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