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Company profile

Founding year

2018

Funding round

Pre A

Raising funds

Yes

Country

United Kingdom

Employee number

11

Pitchdeck

Problem they are solving

The process between payment and bookkeeping/accounting is broken. Employees write expense reports in excel, print them out and glue
them together. Accounting still chases invoices and enters data manually. Controlling accesses data when it is too late.

Solution to the problem

Payhawk is a business spending solution for growing businesses. We enable companies to manage their spend and expenses with smart Visa cards and bank integrations (coming soon). We streamline and automate the process from the payment to the bookkeeping. Example: The employee pays with a card. Directly receives a notification on their mobile phone. She scans the invoice/receipt, writes a descriptive comment and categorizes the expense. Bookkeeping and Controlling have real-time access to this data. Additionally, we offer automated data extraction and integrations with the bookkeeping software.

Market traction

We can offer our services in the European Economic Area (EEA). Hence, for us, the EEA is the primary market. Here we have 40 clients from 10 EU countries.

Success story

For a field service company with 50 travelling employees, we reduced the effort of the travelling employee with 90%, for the accounting team with 80% (through automated data extraction and bookkeeping) and enabled their controlling team to have real-time data.

Expansion plans

We are born global company, offering our service in the EEA.

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