Spendesk has successfully raised 35 million EUR with Index Ventures as its leading investor. Spendesk has raised 54 million EUR over the years, including seed funding.
Developed to offer expense management services, Spendesk is a French startup which tracks expenses of your business. The goal of its work is to empower your employees by simplifying the entire book-keeping process. This all-in-one solution works like Revolut or N26 but specifically for the corporate sector.
By signing up to Spendesk, you can set payment limits for each employee as per your requirements. You can define regulations and specify charges for each payment approval. To start with, you get an IBAN which you can top up with your account and set different customised policies.
All your employees will get virtual cards for online payments and procedures and physical cards for payments on the road. The company has designed tools to makes things easier for you, for example:
- Approval workflows: Spendesk aids you in authorising team managers to accept or decline requests.
- Mobile app: Uploads receipts as well as tracks all your payments.
- Reminders: With Spendesk you can follow up with your employees through email and mobile
- Automated VAT: Spendesk auto fills the VAT rate
There are countless features, through which the startup aims to help you get your business expenses sorted and give you extra time to focus on industry-related issues. Over time Spendesk is planning to open up offices in Berlin and London. Furthermore, Spendesk is expanding and adding more currencies as well as developing new features.