Spendesk raises €35Mn through Series B round led by Index Ventures
Date: 2019-09-10   Author: Paroma Bhattacharya  Category: #news

Spendesk raises €35Mn through Series B round led by Index Ventures

The company will use the newly raised funds to strengthen its product and to expand its footprint across Europe.

Spendesk, a smart spending management software startup based in France, has reportedly raised €35 million in a Series B funding round led by international venture capital firm Index Ventures which previously backed Spendesk’s €8 million funding in Series A round in 2018.

According to sources, the capital will help Spendesk to accelerate the development of products and expand its footprint across Europe. Moreover, the company will use this funding to open offices in London and Berlin along with adding new features to its product.

Established in 2016, Spendesk defines itself as a smart spend management platform which is built for both employees as well as finance teams. The platform combines physical and virtual payment methods, approvals, automated receipt capture, real-time spend insights and invoice management.

Finances teams can also benefit from its strong reporting and accounting integrations for employees and management that enables organizations to conduct better finance management.

While talking about the company, Rodolphe Ardent, CEO and Founder, Spendesk, said that the company’s website and the app could streamline expenses and invoice management for employees. The company’s innovative solutions give businesses all the control they require and employees the autonomy they need to get the job done.

Ardent claims that it is critical for the company to ensure that it fosters its hard work, a culture of excellence, commitment to customer and ownership it has built lately. He further added that Spendesk is building valuable products by keeping customers in mind.

As per Dominique Vidal, Partner, Index Ventures, Spendesk has witnessed tremendous growth in the small business sector of Europe. He claims that the investment will help Spendesk capitalize on its demand and expand internationally.

Source Credit - https://www.crowdfundinsider.com/2019/09/151359-smart-spend-management-software-company-spendesk-secures-e35-through-series-b-investment-round-led-by-index-ventures/

https://www.pehub.com/2019/09/index-ventures-leads-series-b-round-for-spendesk/



About Author


Paroma Bhattacharya

Paroma Bhattacharya

Paroma currently works as a content developer for AlgosOnline. Fortified with a post-graduation degree in Journalism and Mass Communication, she delved head long into a writing career, creating resourceful and information enriched content in diverse fields. Apart from...

Read More

More from Paroma


Post Recommendents

Superior Graphite inaugurates new plant in Hopkinsville, Kentucky
Author: Saipriya Iyer

In today’s globalized economic world, companies are increasingly looking at establishing new operations to strengthen business growth. This expansion helps offer lucrative market opportunities, new consumers and ...


SaaS startup Loop Returns raises $10 million in Series A investment
Author: Pankaj Singh

With growing online shopping traffic, the number of brands selling their products has also increased over the past few years. With more people shopping online, more brands are expanding themselves economically. However...


Adidas plans to pull the plug on two major robotic factories
Author: Pankaj Singh

In this era of automation and digitalization, keeping pace with the humongous deals and requirements has been stated to give the manufacturing companies a tough time. This leads to either the dissolution of the company...