Eleven Ventures is an early-stage venture capital firm investing in startups across Southeast Europe since 2012. The firm supports technology companies in priority sectors including the future of work, fintech, healthcare, and sustainable food.
Svetozar is a general partner at Eleven Ventures and Eleven Capital, alongside co-founding roles at Campus X and Telerik. He also chairs BESCO and serves on multiple boards, including Teach For Bulgaria and the American University in Bulgaria.
Eleven Ventures led the seed investment in the financial artificial intelligence platform, with additional backing from Fuel Ventures.
"It was immediately clear from our own experiences in Venture Capital that Eilla’s innovative, AI driven approach will save a substantial amount of time and resources. Eilla will enable us in VC and others across PE, Corporate Finance and beyond to really focus on actually adding value. We’re excited to be investing alongside Eleven Ventures, and are looking forward to building something great with the enormously talented Eilla team."
Greenoaks led the Series B round, which values the company at $570m.
"Ask any business owner, and they’ll tell you that managing corporate spend is among the most frustrating parts of running a company. It requires significant manual work that consumes employee time and introduces substantial room for error. Payhawk turns a fragmented process into a seamless one, providing a single place to manage the entire spending lifecycle from company cards to expenses and bill payments to invoices. We’ve been thrilled to see how fast they’ve grown, already serving a truly global customer base that’s attracted by powerful and delightful software. We think that painful expense reports and bill payments should be a thing of the past, and we are excited to partner with Payhawk on the way to getting there."
