Spendesk has just raised 100 million euros from its investors, becoming the 26th French unicorn and the 7th Fintech unicorn, with a valuation now estimated at over one billion dollars. The first Vintage Altaroc is invested in Spendesk via General Atlantic 2021, a global growth equity fund which also supports two other French unicorns, PayFit and Backmarket.
Founded in 2016 within the renowned start-up studio eFounders(*), which also supported the development of Aircall - another French unicorn, Spendesk specializes in corporate expense management.
With the aim of continuing and accelerating its growth, the company has completed this new round of financing led by the American hedge fund Tiger Global, accompanied by Spendesk's historical investors : General Atlantic Eight Roads Ventures, Index Ventures and eFounders.
While the previous round of financing only took place in July 2021 (for an amount of 100 million euros), this new fund-raising is rather opportunistic. " Several investors had wanted to take part in our previous round but were unable to. So we decided to extend the last round," explains Spendesk's CEO. Thanks to these last two rounds of funding, the company, which has doubled its sales in 2021, has been able to extend its offering to all categories of corporate spending, as well as develop new functionalities such as reporting.
(*) eFounders is a startup studio founded in 2011 by Thibaud Elziere and Quentin Nickmans. The concept of the company, which operates in France and Belgium, is to launch original ideas to give birth to startups. Once the idea has been taken up by entrepreneurs, eFounders then partners with them to create and develop the startup.
Find out more about the new fundraising:
www.lesechos.fr/start-up/deals/la-fintech-spendesk-devient-la-26e-licorne-francaise
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