INSUBCONTINENT EXCLUSIVE:
French startup Spendesk has raised another $38.4 million Series B round with existing investor Index Ventures leading the round
It lets you track expenses across your company, empower your employees with a clear approval process and simplify your bookkeeping.The
service essentially works like Revolut or N26, but for corporate needs
After you sign up, you get your own Spendesk account with an IBAN
can pay directly using Spendesk just like any corporate card
If you have to pay in cash or with another card, you can take a photo of the receipt from the Spendesk mobile app and get your money
back.Many Spendesk users also leverage the service for other use cases
For instance, you can define a marketing budget and let the marketing team spend it on Facebook or Google ads using a virtual card.You can
If you hire freelancers, you can also upload all your invoices to the platform, export an XML with your outstanding invoices and import it
to your banking portal.Spendesk tries to be smarter than legacy expense solutions
For instance, the company tries to leverage optical character recognition (OCR) to match receipts with payments, autofill the VAT rate,
Over the past year, the company went from 20 employees to 120 employees
There are now 1,500 companies using Spendesk in Europe.
