French Fintech Spendesk Extends Series B with $18M Investment
Paris-based spend management platform Spendesk has secured an additional \(18 million in funding, extending its Series B round to \)56.4 million total. This latest investment comes from Eight Roads Ventures, following the company’s initial $38.4 million Series B raise in 2019.
Comprehensive Spend Management Solution
Spendesk offers an all-in-one platform for corporate financial management, featuring:
- Smart corporate cards: Both virtual and physical card options
- Automated approval workflows: Streamlined expense authorization
- Expense reimbursement tools: Simplified employee claims processing
- Centralized document management: Unified invoice and receipt tracking
The platform enables real-time spending control and significantly reduces accounting overhead by automating reconciliation between transactions and supporting documentation. Spendesk also integrates with major accounting software including Xero, Datev, Netsuite, and Sage.
Innovative Expense Control Features
Spendesk stands out with its advanced financial controls:
- Single-use virtual cards: Generated upon manager approval for specific purchases
- Customizable physical cards: With features like:
- Pre-set spending limits
- Manager-controlled top-ups
- Transaction restrictions (ATM withdrawals, weekend spending)
- Mobile app functionality: Real-time balance checks and digital receipt submission
Strong Growth Despite Economic Challenges
Operating on a SaaS subscription model, Spendesk reports:
- Doubled subscription revenue year-over-year
- Team expansion from 100 to 200 employees in 12 months
- 40,000 active users across European SMEs
Notable clients include tech leaders Algolia, Curve, Doctolib, Raisin, and Wefox. The company recently strengthened its leadership team with the appointment of Joseph Smith as Chief Revenue Officer.
Image Credits: Spendesk
📚 Featured Products & Recommendations
Discover our carefully selected products that complement this article’s topics:
🛍️ Featured Product 1: Isol 1 – White
Image: Premium product showcase
Premium quality isol 1 – white designed for professional use with excellent performance and reliability.
Key Features:
- Professional-grade quality standards
- Easy setup and intuitive use
- Durable construction for long-term value
- Excellent customer support included
🔗 View Product Details & Purchase
🛍️ Featured Product 2: Spring Tee – Black
Image: Premium product showcase
Advanced spring tee – black engineered for excellence with proven reliability and outstanding results.
Key Features:
- Industry-leading performance metrics
- Versatile application capabilities
- Robust build quality and materials
- Satisfaction guarantee and warranty
🔗 View Product Details & Purchase
🛍️ Featured Product 3: Rio Anika Singlet – White
Image: Premium product showcase
Premium quality rio anika singlet – white designed for professional use with excellent performance and reliability.
Key Features:
- Professional-grade quality standards
- Easy setup and intuitive use
- Durable construction for long-term value
- Excellent customer support included
🔗 View Product Details & Purchase
💡 Need Help Choosing? Contact our expert team for personalized product recommendations!
