🏆 Deal of the Week · CW 9/2022
Payhawk raised USD 100 million in a Series B round in March 2022, reaching a valuation of USD 1 billion. The round was led by Lightspeed Venture Partners, making Payhawk the first Bulgarian-founded company to achieve unicorn status. The raise positions Payhawk among the leading spend management platforms in Europe.
Payhawk — key deal facts
| Company | Payhawk |
| Founded | 2018 |
| Headquarters | London, United Kingdom |
| Amount raised | USD 100M |
| Valuation | USD 1B |
| Round | Series B |
| Investors | Sprints Capital (https://sprintscap.com/) Endeavor Catalyst (https://endeavor.org/) HubSpot Ventures (https://www.hubspot.com/ventures) Jigsaw VC (https://jigsaw.vc/) Greenoaks (https://www.greenoaks.com/) QED Partners (https://www.qedinvestors.com/) Earlybird Digital East (https://www.moltenventures.com/seed-funds/earlybird) |
| Sectors | FinTech |
Who invested in Payhawk?
The round drew participation from Sprints Capital, Endeavor Catalyst, HubSpot Ventures, Jigsaw VC, Greenoaks, QED Partners, and Earlybird Digital East. The presence of QED Partners, a specialist fintech investor, alongside HubSpot Ventures signals confidence in both the financial infrastructure and the go-to-market scalability of the platform. Earlybird Digital East's participation reflects the round's recognition of Payhawk's Eastern European roots alongside its pan-European and transatlantic ambitions.
What does Payhawk do?
Payhawk is an AI-native FinTech company founded in 2018 by Hristo Borisov and headquartered in London, United Kingdom. The company operates a unified spend management platform that combines corporate Visa credit cards, expense management, accounts payable, and procurement into a single workflow. Core product features include real-time card controls, AI-powered receipt matching and reconciliation, and integrations with major accounting software. The platform serves mid-market and enterprise clients across 32-plus countries in Europe, the United States, and the United Kingdom.
Payhawk valuation & multiples
Explore the benchmarks: Series B.
Frequently asked questions
How much did Payhawk raise in its Series B?
Payhawk raised USD 100 million in its Series B round in March 2022.
What is Payhawk's valuation?
Payhawk was valued at USD 1 billion at the time of its Series B round, achieving unicorn status.
Who invested in Payhawk?
The Series B was led by Lightspeed Venture Partners, with participation from Sprints Capital, Endeavor Catalyst, HubSpot Ventures, Jigsaw VC, Greenoaks, QED Partners, and Earlybird Digital East.
When was Payhawk founded and where is it based?
Payhawk was founded in 2018 and is headquartered in London, United Kingdom.
Source: original announcement — read the full report.