Payhawk, a payment and expense solution with offices in London, Sofia, Berlin, and Barcelona, raised an additional $100 million to extend its Series B round to $215 million at a valuation of $1 billion, making Payhawk the first-ever Bulgarian company to achieve unicorn status.
The round was led by Lightspeed Venture Partners, joining the round are Sprints Capital, Endeavor Catalyst, HubSpot Ventures, and Jigsaw VC. All existing investors including Greenoaks, QED Partners, and Earlybird Digital East are participating.
The company plans to become a catalyst for the Bulgarian startup ecosystem and continue to attract and retain the top 1% of talent in the market. The fintech will use the funds to further grow its product team, double down on its efforts to build best-in-class enterprise features, and expand the sales and marketing team for new market penetration in 2022
Company: Payhawk Limited
Raised: $100.0M
Round: Series B
Funding Month: March 2022
Lead Investors: Lightspeed Venture Partners
Additional Investors: Sprints Capital, Endeavor Catalyst, HubSpot Ventures, Jigsaw VC, Greenoaks, QED Partners, and Earlybird Digital East
Company Website: https://payhawk.com/
Software Category: Expense Management Software
About the Company: Founded in 2018 by Hristo Borisov and Boyko Karadzhov and later joined by Konstantin Dzhengozov, Payhawk is a financial platform that combines expense management, payments, and invoice management in one solution and works as a one-stop-shop for finance teams. Its customer base consists of a mix of fast-growing and mature multinational companies like LuxAir, Lotto24, Viking Life, Gtmhub, Flink, MacPaw, and By Miles.
Source: https://payhawk.com/blog/payhawk-becomes-first-ever-bulgarian-unicorn-after-raising-100m-in-a-lightspeed-led-series-b-extension/