Payhawk Lands $112M in the Second Largest Series B in Central and Eastern Europe

The payments and expense solution provider Payhawk announced yesterday it has secured $112 million in the second largest Series B round in central and eastern Europe, bringing its valuation to $570 million.

Also, this round marks the largest and fastest Series B in the spend management space across Europe. It was led by the San Francisco-based investor Greenoaks, with existing participants including QED Investors, Earlybird Digital East and Eleven Ventures.

Currently, Payhawk serves companies in 27 countries with its company cards and spend management platform across Europe, and will continue its global expansion with aims to open offices in the US, Netherlands, France, Australia and Singapore.

With the new capital, the company plans to accelerate its product roadmap with the launch of a credit card in Q1 2022, and low-cost cross-border transfers as an alternative to SWIFT payments.