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Spendesk (eF16) raises €100M in Series C funding led by General Atlantic. Less than a year since it added $18M to its Series B round…
Spendesk (eF16) raises €100M in Series C funding led by General Atlantic. Less than a year since it added $18M to its Series B round, Spendesk continues to accelerate its rapid growth and confirms its position as a leading spend management solution in Europe.
Transforming spending at work
In 2016, Rodolphe Ardant, Guilhem Bellion, and Jordane Giuly cofounded Spendesk within our studio. Spendesk was born out of our common realization that company expenses were broken and a big headache for finance teams. We set out to solve this.
Fast forward five years and we can proudly say that the team at Spendesk has solved this problem by building the reference spend management solution for finance teams in Europe,
The mission? To transform spending at work by empowering finance teams. The team at Spendesk has crafted an impressive product to do just that. Its all-in-one spend management solution provides full visibility and control on all company spending. The platform combines payments, processes, and data into one source of truth, delivering more transparency to the CFO suite. While employees benefit from the ease of virtual and physical cards for expense reimbursements, invoice management — and more.
At its core, the team at Spendesk has built a powerful product to liberate finance teams from tedious daily tasks, so they’re free to focus on value-added tasks — delivering more value to the business as a whole.
A year defined by growth
Today, Spendesk raises a €100M Series C round from growth equity firm General Atlantic, bringing Spendesk’s total funding to €160M. All previous investors, including Index Ventures and Eight Roads Ventures, also participated in this round.
The new investment follows a year of incredible growth for Spendesk. Despite adverse market conditions as a result of the pandemic, Spendesk still managed to double its revenue and its team count. Spendesk grew from 150 to 300 employees distributed across offices in Paris, London, Berlin, and San Francisco, as well as in remote locations across the world.
The team also doubled the memberships in its global finance community, CFO connect. The fastest-growing global community of finance leaders has now 6,500 members. Props to everyone for growing Spendesk, in every direction!
What’s next
Spendesk will use the new funds to double its headcount within the next two years to reach 600 employees and accelerate product innovation. This is already well underway with Slack and Microsoft alumnus James Colgan having recently joined as Chief Product Officer. Congratulations to Rod and the team for breaking boundaries, once again, and truly transforming the way people spend at work.
Interested in joining the Spendesk adventure? They’re hiring!
Want to join the next big thing? We’ve got lots of opportunities for you.
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