Payhawk is a spend management solution for business use. Payhawk combines corporate cards, reimbursable expenses, accounts payable, and accounting software integrations into a single platform.
History
Payhawk was founded in 2018 in Sofia, Bulgaria by Hristo Borisov, Konstantin Djengozov, and Boyko Karadzhov. Payhawk operates internationally with offices in Europe and USA.
The company provides a spend management solution which includes a web application, mobile app, and features such as corporate cards, expense management software, accounts payable software, reimbursements, invoice management, and enterprise credit cards. Payhawk can be integrated with ERP and accounting software systems.
In March 2020, Payhawk received its initial seed funding of $3.6 million. In April 2020, the company raised $20 million in its Series A funding round. In November 2021, the company raised $112 million in its Series B funding round led by Greenoaks Capital, bringing the company's valuation to $570 million. In March 2022, in an extension of its Series B funding round, Payhawk secured an additional $100 million, bringing its total valuation to $1 billion.
In September 2022, Payhawk launched in USA, opening an office in New York and introducing their Visa credit card for US based clients. The following month, Payhawk launched its business credit card in the UK. In March 2023, Payhawk launched a zero-interest Visa credit card for eligible USA and UK based clients.