COMMUNICATION: Payhawk celebrates 2 years in Spain: a market that already accounts for 20% of its business

(Information sent by the signing company).

COMMUNICATION: Payhawk celebrates 2 years in Spain: a market that already accounts for 20% of its business

(Information sent by the signing company)

Directed by Iñigo Aguirre at the local level, the fintech has a team of more than 20 people in the country and its clients include companies of the stature of Fagor, Wallbox, Heura or Wallapop. The expense management solution enables companies to eliminate up to 80% of their manual processes and gain three days of work per month for finance departments. The company already operates in 32 countries, including the United States and the main European markets

Payhawk, the comprehensive solution for managing expense reports, company cards, invoices and payments, celebrates the second anniversary of its first operations in Spain. During this time, it has managed to position itself as one of the leaders in its sector, with a special focus on companies with more than 200 employees and growing companies. So far this year, its turnover in the country has increased by 242% and, currently, it contributes 20% of the global business. Spain has always been one of the priority markets for fintech, with Iñigo Aguirre as commercial director and main person in charge of the business plan. Aguirre began working as the sole member of the local team and currently has the support of 24 professionals, with a forecast of reaching 30 before 2023. The implemented deployment strategy has allowed the brand to be consolidated and a powerful client portfolio to be formed, which It already adds names like Fagor, Wallbox, Heura and Wallapop, among many others. "We are very proud of the position we have achieved in just two years, as it is a direct reflection of the value that Payhawk brings to the Spanish market," explains Aguirre. "Now, we want to continue growing and show more and more companies the potential of our technology." Its solution allows businesses to centralize and digitize their accounting and financial processes. Unlike other existing options, Payhawk offers companies the possibility of providing their teams with company cards with which to face any company expense and to automate all expense management and other movements, such as the payment of invoices to suppliers via bank transfer. The technology is integrated via API with the accounting system (or ERP) used by the company, eliminating a large part of the manual processes. Another advantage of Payhawk is that it allows multi-entity management, by unifying in a single platform all the management of expenses and payments at a global level that companies carry out in their different markets. With Payhawk, companies manage to automate up to 80% of their manual processes, saving finance departments time and resources that they can dedicate to strategic and high value-added tasks. On average, these teams are freed up to 3 days of work and, for a company with a volume of 100 expenses per month, a monthly saving of €3,000 is achieved. In addition, thanks to its cashback program (one of the highest in the market), businesses can recover a large part of the money paid with their company cards. The value of its product has favored the international expansion of the startup to 32 countries, including the United Kingdom, the United States, Ireland, Benelux, France, Germany, Bulgaria and Spain. Payhawk is currently the only business spending solution in Europe to offer credit cards in the UK and US. Since its creation in 2018, it has raised $240 million in funding, achieving, in the last round in March 2022, unicorn status.

ContactContact name: TEAM LEWISContact description: TEAM LEWISTContact phone: 34 919 26 67 03

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