Payhawk Becomes First Ever Bulgarian Unicorn After Raising $100M in a Round Led by Lightspeed Venture Partners, Valuing the Company at $1bn
Summary
With the extra funds, Payhawk now has the financial clout required to aggressively expand its presence in the mid-size enterprise market and continue its ambitious global expansion plans. Currently, finance teams still do a significant amount of manual work due to multiple disconnected tools for cards, payments, invoices, and expense management. The fresh capital will be used to further grow Payhawk’s product team by adding 60 additional senior software engineers in Sofia from the top 1% of the market. Building on the momentum from the first influx of Series B capital, Payhawk is set to open offices in Amsterdam and Paris in March, and in New York in September. Every employee that deals with company payments feels that there should be a better way to do it, but this huge problem was never tackled by a strong product team with hardcore engineering background.
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