Spendesk SAS

Based in Paris, France, and founded in 2016, Spendesk SAS operates as a provider of financial management solutions for corporate expenses, invoices, and payments. The company was co-founded by Jordane Giuly, Rodolphe Ardant, and Thibaud Elziere and is backed by investors including Index Ventures, Eight Roads Ventures, and General Atlantic which led the EUR 160 million Series C funding round in July 2021. The company employs 300 people as of July 2021. Spendesk platform helps enterprises by providing smart payments, virtual and physical cards for employees, expense reimbursements, invoice management, automated spend approvals, and budgets.

It also enables them to control and track their real-time expenses by tracking the expenditure of the company from purchase to ledger. The platform generates virtual cards for secure online spending along with providing secure and customizable debit cards. The platform consolidates expense reimbursements alongside all other company spending and allows smooth procure-to-pay process. The platform enables streamlining purchase orders and supplier invoices linked to team approvals, budgets, payments & accounting.

The platform also reduces the time spent on month-end closing by automating VAT extraction, expense account allocation and receipt reconciliation and also allows subscription management for managers. The platform can also be integrated into other accounting and financial software. The company generates revenue through a monthly subscription fee depending on their choice of a plan from Starter, Essentials to Scale. Starter and Essentials are designed for SMBs while Scale is intended for more established and growing businesses.

Spendesk plans to bring more automation and insights to every aspect of business spending and expand its business in Europe. It also plans to double its headcount within the next two years and fill up the open positions in product and engineering, sales, marketing, customer success, people, and finance teams.