Spendesk (eF16) Raises $10M Series A with Index Ventures
Spendesk, the spend management solution for teams, is raising a $10M Series A led by Index Ventures to kill the hassle of payments at work. Spendesk (eF16) is the first fintech startup to come out of eFounders.
The Future of Spend Management
Spendesk started in 2016 when founder Rodolphe Ardant joined forces with eFounders to launch the first version of the product. The vision: to make company payments as simple as personal transactions. From purchase requests to payments to receipt processing: Spendesk makes keeping track of one-off expenses and subscriptions easy and efficient.
Putting finance teams back in the driver seat for all outgoing payments, Spendesk makes company expenses and purchase processes more secure and easily trackable. Gaining early traction with companies like Webedia, Deezer, and Drivy, Spendesk pushed forward with a $2.2M seed round in January of 2017.
Kickstarting Growth
Kicking off 2017 by announcing their seed round, led by Kima Ventures, Spendesk accelerated their growth: gaining a foothold in the UK and in Germany in addition to France, their historic market. The team grew to include 25 members, and the product evolved to make expense management ever-easier for a growing number of companies.
Based in the heart of the Sentier (Paris’ startup-friendly neighborhood) just a stone’s throw away from eFounders, the team are set for bigger and greater things in 2018. Huge credit goes to the team for making the journey so successful: cornering a market that was in its early days when they started took a lot of hard work. It also took tremendous energy, drive, and resilience, all of which founder and CEO Rodolphe has in abundance.
What’s Next for Spendesk
This new $10M Series A round, led by Index Ventures, will allow team Spendesk to further accelerate product development and expand the team to conquer the European market. “Booking a plane ticket online or settling a supplier invoice should be as easy as checking your inbox,” says Rodolphe Ardant, founder and CEO. “Ultimately, finance department should use their bank account, their accounting software and Spendesk.” Word.
Want to join eFounders and help us build the future of work? Check out our current openings!
