Bulgarian fintech company Payhawk is reportedly nearing a ample funding round that could value the corporate spend management platform at nearly $2 billion. The potential $100 million-plus investment, first reported by Bloomberg, underscores continued confidence in European fintech despite increasing competition for capital from the rapidly expanding artificial intelligence sector. Payhawk,founded in 2018,provides businesses with a platform to manage expenses from subscriptions to supplier payments,and has seen meaningful growth – reporting a 78% revenue increase in 2024 [[1]].
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Bulgarian fintech Payhawk is in discussions to secure over $100 million in new funding, potentially doubling the company’s valuation to nearly $2 billion, according to sources familiar with the matter. The potential investment signals continued investor interest in European fintech companies, even as competition for capital intensifies from the artificial intelligence sector.
The corporate spend management platform is currently negotiating with investors for the funding round, Bloomberg News reported. Neither Payhawk nor its representatives have publicly commented on the discussions.
Payhawk’s growth has been significant, with the company reporting a 78% increase in revenue throughout 2024. This performance is likely fueling the current investment interest, demonstrating the company’s ability to scale and capture market share.
The planned funding round comes as companies increasingly seek solutions to manage increasingly complex and digitized corporate expenses. Many finance departments still rely on manual processes, creating operational risks and potential regulatory issues, according to an analysis by PYMNTS.
Payhawk addresses these challenges by consolidating financial operations – from corporate cards to supplier payments – into a single platform, providing transparency and control over financial flows. In November, the company expanded its electronic invoicing capabilities across Europe through a partnership with Spanish firm Invopop, allowing financial teams to receive, validate, and pay invoices directly within the Payhawk platform.
“Outside of AI, we’re seeing some of the biggest jumps in Europe in the fintech sector, thanks to the maturity of these companies,” Navina Rajan, an analyst at PitchBook, told Bloomberg. “The European fintech sector remains resilient and demonstrates a maturity that continues to attract significant investment.”
The rise of digital payments and remote work has further complicated corporate financial management, creating a growing demand for integrated solutions like Payhawk. The company’s platform aims to streamline these processes, offering a comprehensive ecosystem for managing all aspects of corporate spending.
