Payhawk is a spend management platform that integrates corporate cards, expense management, and accounts payable into a single system, utilizing dedicated IBANs and automated workflows for efficient financial operations. It addresses the challenges of manual expense processing and fragmented financial tools, enabling businesses to streamline their payment processes and reduce administrative workload by over 50%.
Funding
$238.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many multinational businesses struggle with fragmented financial tools and manual expense processes, leading to inefficiencies in payment processing, reconciliation, and spend visibility. Managing corporate cards, expense reports, and accounts payable across different countries and entities requires significant administrative overhead and increases the risk of errors.
Solution
Payhawk offers a unified spend management platform that consolidates corporate cards, expense management, accounts payable, and global payments into a single system. By providing dedicated IBANs in multiple currencies, the platform enables businesses to streamline financial operations and gain real-time visibility into company spending. Automation-powered features such as AI-driven data extraction, automated receipt collection, and customizable approval workflows reduce manual workload and accelerate month-end closing. Native integrations with ERP, accounting software, and HRIS systems ensure seamless data synchronization and eliminate the need for disjointed tools.
Target Audience
Payhawk is designed for mid-size and large multinational businesses seeking to streamline spend management, enhance financial control, and gain greater visibility over company expenses.
Features
- Corporate Visa debit and credit cards in 7 currencies across 32+ countries with proactive spend controls
- AI-powered multilingual data extraction from receipts and invoices in 60+ languages
- Automated employee reimbursement and travel expense management with direct bank transfers
- End-to-end accounts payable automation with purchase order management, invoice processing, and domestic/international payments
- Real-time spend reporting and analytics with customizable dashboards
- Native integrations with ERP systems like Oracle NetSuite and Microsoft Dynamics, as well as accounting software like Xero and QuickBooks
- Robust RESTful API and real-time webhooks for custom integrations
- Cashback rewards on card spend