August 1, 2021

French start-up Spendesk raises 100 million euros

For a company that wants to specialize in the management of financial flows, this is excellent news. On Wednesday July 21, Spendesk, an expert in managing employee expenses in companies, announced a fundraising of 100 million euros, the tenth largest of 2021 in France, carried out mainly from the investment fund American General Atlantic.

The creation of this “fintech” in 2016 by Jordane Giuly, Guilhem Bellion and Rodolphe Ardant was born from an observation: as much the means of payment have modernized for individuals, making life easier for consumers, as professionals remain prisoners of the process. painful. Filling out expense reports for the lunches they organize, going through a specific service to organize their trips, requesting the company’s payment card to make an online purchase … a waste of time, as much for the employees who hire these expenses only for the finance teams who must manage them afterwards.

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The product marketed by Spendesk allows its users, through an application, to make any type of purchase (by transfer of funds or through virtual cards) and to be reimbursed as quickly as possible if they personally advance payments. costs. At the same time, the service allows companies to control their expenses and allocate them to the right lines of accounting, while saving, according to the company, 20% of time on this laborious task.

His income doubled in one year

Spendesk has 3,000 business customers, with 70,000 users who use the service every day. Sign of the acceleration in the activity of the start-up, it declares to have managed 2.5 billion euros of expenses since its creation, including one billion in the last six months. Her income, which she withdraws from subscriptions to her software platform (from 120 euros per month), has doubled in one year, without her specifying the amount.

Although it has opened an office in San Francisco, it operates mainly in three markets: France, Germany and England. And for good reason: it has identified one million companies with 30 to 1,000 employees, its core target. Before considering a wider international expansion, Rodolphe Ardant, CEO of Spendesk, already sees it “An opportunity for astronomical growth”.