Global spend management platform Payhawk reported 89.4% global annual growth in SaaS revenues in 2023 combined with net revenue retention from new customers in 2023 at 151%.
Carrying its strong product momentum into 2024, the company announces several key appointments, key partnerships, product expansions, and hiring across multiple markets.
Bolstering its executive team is Maor Fishman as General Counsel. Fishman joins from leading fintech Checkout.com, where he was Deputy General Counsel focusing on financial services regulations and data protection. Fishman’s expertise in strategic leadership, regulatory frameworks, data protection, and financial services will be integral to guiding Payhawk’s continued expansion.
This appointment follows two other senior hires earlier this year: David Ward as SVP of Customer Success and Pedro Batista as VP of Payments & Operations. Ward and Batista respectively bring over 20 years of experience in FinTech and SaaS at companies like Plaid and MuleSoft, and have a track record of shaping high-growth payment products pre exit.
This seasoned leadership team is already advancing Payhawk's capabilities and recognition. The company recently ranked as a Leader in G2's Winter 2024 reports for Expense Management and Invoice Management, was awarded the #2 spot globally for Payment Card Issuance, and was just announced as one of the Top 50 Software providers in the UK, also by G2.
Central to its momentum is an intensified focus on integrations, innovations and partnerships. Payhawk now features a native Microsoft Dynamics integration, with over 40 joint customers since becoming part of the Microsoft partner program and launching their Microsoft AppSource listing. It has also joined the Oracle NetSuite and Quickbooks marketplaces, and introduced a new partnership with Wise to power global international payments to all of its customers in more than 60 currencies.
Additionally, as a principal Visa Europe member, Payhawk can directly issue Visa cards to accelerate payment innovation for its clients worldwide. "With our new Visa membership and our recently granted Electronic Money Institution (EMI) licenses covering the UK and EEA, one of our top priorities is further expanding our payment options. For example, we currently offer customers the choice between debit and credit cards in some markets, but we will shortly offer this flexibility to all our clients. Also on the back of the strong performance in 2023 and new licenses, we are planning to increase our headcount in the UK by 44%" said Hristo Borisov, CEO of Payhawk.
These developments build on an advanced, and externally validated, security and compliance framework, with SOC 1 and 2 certifications, as well as PCI DSS Level 1 and ISO 27001. Further verifying its technology, Payhawk recently received accreditation from the Institute of Chartered Accountants in England and Wales (ICAEW) after in-depth examination of its systems and processes.
With strong third-party validation, marquee integrations, and a customer-focused strategy, Payhawk enters 2024 well-positioned to continue scaling its platform and reinforce its position as a global spend management leader.