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spendesk raises another $18 million for its corporate card and expense service

AVATAR Romain Dillet
Romain Dillet
Senior Reporter
•October 13, 2020
Topics:Eight Roads VenturesEuropeFrance NewsletterSpendeskStartups
spendesk raises another $18 million for its corporate card and expense service

The French company Spendesk has secured an additional $18 million in funding as part of its Series B investment. Previously, the company had already obtained $38.4 million during its Series B round last year, bringing the total for this round to $56.4 million. This extension round includes investment from Eight Roads Ventures.

Spendesk specializes in comprehensive spend management solutions. The platform provides both virtual and physical cards for employees, facilitates the creation of approval processes, and streamlines expense reimbursement procedures. It also offers a centralized system for managing all invoices and receipts.

By consolidating these functions into a single platform, businesses gain real-time control over their expenditures and reduce the time spent on accounting processes. Combining transactions and receipts within Spendesk simplifies reconciliation. Furthermore, users can export their data to popular accounting software such as Xero, Datev, Netsuite, and Sage.

spendesk raises another $18 million for its corporate card and expense serviceFor larger purchases, employees can submit a request to their supervisor. Upon approval, a single-use virtual card is issued specifically for that expense.

Likewise, when a company issues a physical debit card, a predetermined spending limit is established. Managers have the ability to increase the card’s balance for significant expenses, restrict ATM access, and prevent transactions during weekends, among other controls. Employees can monitor their spending activity, check their card balance, and submit receipts through a dedicated mobile application.

Spendesk operates on a software-as-a-service model, utilizing a monthly subscription fee. Despite a likely slowdown in transaction volumes due to the current economic climate, the company reports that its subscription revenue has doubled compared to the previous year. Over the past year, the company’s workforce has expanded from 100 to 200 employees.

Spendesk continues to concentrate on serving small and medium-sized businesses throughout Europe. Currently, 40,000 individuals utilize Spendesk through their respective companies. Notable clients include Algolia, Curve, Doctolib, Raisin, and Wefox. The company has recently appointed Joseph Smith as Chief Revenue Officer, shown in the image alongside the company’s CEO, Rodolphe Ardant.

spendesk raises another $18 million for its corporate card and expense service

#Spendesk#corporate card#expense management#fintech#funding#startup

Romain Dillet

Romain Dillet served as a Senior Reporter for TechCrunch until April 2025. He authored more than 3,500 pieces focusing on technology and emerging tech companies, becoming a recognized and respected commentator within the European technology landscape. His expertise encompasses a broad range of areas, including startups, artificial intelligence, financial technology, data protection, cybersecurity, blockchain technology, mobile technology, social media, and the media industry. Having spent thirteen years with TechCrunch, he became a well-known figure at the publication renowned for its comprehensive coverage of Silicon Valley and the broader technology sector – he initially joined TechCrunch at the age of 21. Situated in Paris, he is widely regarded by many within the tech community as a highly informed technology reporter. Romain has a talent for identifying promising startups at an early stage. He was the first journalist to report on Revolut, Alan, and N26. He also broke stories regarding significant acquisitions made by Apple, Microsoft, and Snap. Beyond his writing, Romain also possesses skills as a software developer, giving him insight into the technical aspects of the technologies he covers. He also maintains a comprehensive understanding of the history of computing over the last half-century, allowing him to effectively analyze the connections between new developments and their societal impact. Romain is an alumnus of Emlyon Business School, a prominent French business school with a specialization in entrepreneurship. He has also contributed his time and expertise to various charitable organizations, including StartHer, which focuses on advancing education and empowerment for women in the technology field, and Techfugees, an organization dedicated to assisting displaced individuals through the use of technology.
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Romain Dillet