Spendesk

Spendesk is a French company providing a comprehensive expense and payout management offering. Its solutions range from business expense cards (physical and virtual) and reimbursement platforms to spend automation and approval solutions, budgeting tools, insights, and accounting integrations (including Xero and Datev).

The company has plans (as of April 2022) to offer an invoice and accounts payables management solution to help users manage payouts. It also plans to expand its integrations to include bank accounts. This can especially be beneficial for cross-border businesses - with foreign bank accounts and suppliers - as they can match their bank accounts to make payments to suppliers in those respective nations.

In April 2024, Spendesk acquired Okko, a French procurement company, to provide a fully integrated procurement and spend management solution for mid-sized businesses. Following on from this, Spendesk launched a community-designed API allowing businesses to integrate scrutiny and management of their spend data with other essential operational tools.

Key customers and partnerships

Spendesk primarily targets medium-sized companies (50–1,000 employees) in Europe, and, as of April 2022, it had over 3,500 enterprise clients. In 2021, clients spent around EUR 3 billion (USD 3.4 billion) through Spendesk. Most of its clients were French, while the remainder were based in Germany and the UK. Spendesk’s clients include Decathlon, Curve, and aircall.

Funding and financials

In January 2022, Spendesk raised a EUR 100 million (USD 114 million) extension to its EUR 100 million Series C funding round in July 2021. The round was led by Tiger Global and valued the company at USD 1.14 billion (EUR 1 billion). The funds were earmarked for recruitment and to expand the employee base by 300 in 2022 (after adding 100 employees in 2021).