Spendesk, a company specializing in business expense management, recently raised €100 million, representing one of the largest financing deals of 2021 in France, mainly thanks to the investment of US fund General Atlantic. Founded in 2016 by Jordane Giuly, Guilhem Bellion and Rodolphe Ardant, this fintech developed from the observation that, although payment solutions for individuals have improved, simplifying consumers' lives, professionals are still often faced with cumbersome and time-consuming administrative processes, such as managing expense reports or organizing business travel.
Spendesk offers an application that facilitates purchasing for professionals by enabling transactions via funds transfer or virtual cards, speeding up reimbursement of advanced expenses. It also offers companies an efficient way to monitor their expenses, correctly allocating them in accounting and saving up to 20% of the time normally spent on these tasks.
In just one year, the start-up has seen its revenues double, serving 3,000 companies and 70,000 daily users. Since its inception, Spendesk has managed €2.5 billion in spend, including €1 billion in the last six months. The company, which offers subscriptions to its platform from 120 euros per month, has not disclosed the precise amount of its revenues.
With a presence in San Francisco and activity concentrated in France, Germany and England, Spendesk targets one million companies with 30 to 1,000 employees. CEO Rodolphe Ardant envisages international expansion, perceiving significant growth potential.
