Spendesk (eF16) Raises $38M Series B and Aims to Double Headcount in 2020

Spendesk (eF16) is on a roll. After raising their Series A last year (led by Index Ventures) and growing their team from 20 to 120 Spendeskers, the startup from our eF16 batch is doubling down with a fresh, $38M round of funding (also led by Index) and plans to double their team throughout next year. Spend management has emerged as a major category, and Spendesk is looking to pursue their goal of becoming the leading provider for all things business expense.

Spendesk goes global

Having grown their customer base to over 1,500 businesses across Europe, the team will accelerate their international expansion with at least two new offices: in London, Berlin, and possibly more to come in 2020… Branching out to major fintech players’ backyard — hello like Revolut and N26! — is everything but a coincidence. The transformation these companies have brought to personal finance is an inspiration for Spendesk as the team continues to transform spending at work.

Spendesk is also eyeing up markets beyond Europe. Their diverse team has been internationally-minded since day one, and their ambition could well take them far beyond the old continent as they continue to grow in the coming months.

Making Spendesk a no-brainer for finance teams… and employees

The team is hard at work improving how finance teams and employees request, approve, and track company spending. This includes major features to be released in the coming months that will add to Spendesk’s all-in-one solution. New dashboards, integrations, and partnerships are planned to make business spending beautifully easy.

Their objective: empowering finance teams with visibility across the entire spending process and wow-ing employees with a streamlined experience whether they’re on the go or in the office.

Hitting the next stage of growth

Spendesk has had quite the year: the company went from 20 to 120 employees and more than doubled their customer base. As the team continues to scale, they’re on the lookout for like-minded people to join the crew. With over 25 openings, there’s a little bit for everyone to help Spendesk reinvent the way teams spend at work.

And for those that have been part of the adventure up to now: congrats. We’re rooting for you as you start this new and exciting chapter on your journey to make smart, trackable spending a reality for companies far and wide!

Want to join the next big thing? Check out our current openings!