Payhawk secures £14.3m Series A funding led by QED Investors to expand operations
QED Investors leads Series A financing into the expense management platform alongside Earlybird Digital East.
Payhawk provides a comprehensive spend management platform that combines company cards, invoices, and expense workflows into a single system. The firm serves corporate clients across dozens of countries.
Payhawk has secured £14.3m in a Series A financing round led by QED Investors, with continued backing from existing investor Earlybird Digital East. The fresh capital will be deployed to broaden the product suite, integrate additional currencies, and triple the size of the sales and marketing departments.
The raise follows a period of rapid expansion for the London-based company, which reported tenfold growth through the previous year alongside doubled revenues in the opening quarter of 2021. The platform currently serves a diverse roster of clients ranging from fast-growing startups to multinational enterprises.
QED Investors joins the cap table alongside previous participants including Earlybird Digital East and Eleven Ventures. Leadership noted that the injection of funds will support ongoing international expansion efforts and further development of automated workflows.
Investor perspective
"We are delighted to invest in Payhawk. The company is growing at a phenomenal rate. The company’s product fundamentals are exceptionally strong, and industry trends are working in the company’s favour too. As budgets are more typically managed online by remote teams, there is unprecedented demand for cost-effective finance solutions. We look forward to working with Hristo and the team"
Yusuf Ozdalga
London Partner, QED Investors
Use of funds
- 01Continue product development
- 02Invest in sales and marketing
- 03Expand into international markets
