back Back

Spendesk secures €100M in Series C funding led by General Atlantic

By Megha Bhattacharya

July 23, 2021

Share

Spendesk, the all-in-one spend management platform for finance teams, has raised €100M in Series C funding led by global growth equity firm General Atlantic. All previous investors, including Index Ventures and Eight Roads Ventures, also participated in this round, bringing Spendesk’s total funding to €160M.

With the new funds, Spendesk plans to affirm its position as a leading spend management solution in Europe. This includes doubling headcount within the next two years and accelerating product innovation, with Slack and Microsoft alumnus James Colgan having recently joined as Chief Product Officer.

“Work culture is becoming increasingly informed by our private lives. Employees crave more empowerment, agility and faster decision-making to be effective in their roles. And traditionally, finance teams haven’t been equipped with the tools that can support this transformation,” said Spendesk’s co-founder and CEO, Rodolphe Ardant. “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.”

Spendesk offers an intuitive SaaS spend management solution that provides 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 into one source of truth, with virtual and physical cards for employees, expense reimbursements, invoice management, automated spend approvals, and budgets. The solution aims to liberate finance teams from day-to-day admin tasks, freeing them to focus on proactive and strategic value-add.

“We are thrilled to have top-tier growth equity firm General Atlantic join as an investor and support our mission to transform spending at work. We will greatly benefit from their expertise in scaling SaaS and fintech disruptors such as OpenClassrooms, Doctolib, Typeform and Mollie,” Ardant added.

Aaron Goldman, Managing Director and Global Co-Head of Financial Services at General Atlantic, continued, “Rodolphe and the Spendesk team have set out to become the operating system for business spending – delivering visibility, transparency, and control to the CFO suite. The company is driving much-needed digital innovation in antiquated finance processes and helping to define the spend management software category. We are excited to back Spendesk’s mission and look forward to partnering to accelerate the business’ rapid growth.”

Previous Article

July 23, 2021

Upstox announces appointment of new Chief Technology Officer

Read More
Next Article

July 23, 2021

Fidelity International onboards Finbourne’s Lusid platform

Read More








IBSi Daily News Analysis

Fraud

February 23, 2024

Regulated firms battle surge in financial crime attempts, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Axway to buy most of Sopra Banking Software activities for €330m

Read More

February 22, 2024

Kani Payments taps Pismo for data reconciliation and reporting

Read More

February 22, 2024

Finastra & Unitas to offer treasury solution to banks in South Korea

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023