Payhawk

Payhawk was founded in 2018 in Sofia, Bulgaria by Hristo Borisov, Konstantin Djengozov, and Boyko Karadzhov.[1][2][3][4][5][6][7] Payhawk operates internationally with offices in Europe and USA.[8][9][10][11][12]

The company provides a spend management solution[13][14][15] which includes a web application, mobile app, and features such as corporate cards, expense management software, accounts payable software, reimbursements, invoice management, and enterprise credit cards.[16][17][18] Payhawk can be integrated with ERP and accounting software systems.[19][20]

In March 2020, Payhawk received its initial seed funding of $3.6 million.[21][22][23] In April 2020, the company raised $20 million in its Series A funding round.[24][25][26] In November 2021, the company raised $112 million in its Series B funding round led by Greenoaks Capital, bringing the company's valuation to $570 million.[27][28] In March 2022, in an extension of its Series B funding round, Payhawk secured an additional $100 million, bringing its total valuation to $1 billion.[29][30][31][32]

In September 2022, Payhawk launched in USA, opening an office in New York and introducing their Visa credit card for US based clients.[33][34][35][36] The following month, Payhawk launched its business credit card in the UK.[37] In March 2023, Payhawk launched a zero-interest Visa credit card for eligible USA and UK based clients.[38][39][40]