French Startup Spendesk Raises $9.9M for its Corporate Expense Platform
Paris-based startup Spendesk has raised $9.9 million to expand its corporate expense reporting platform across Europe, it was announced today.
As a platform service that aggregates all employee expenses into one space, Spendesk uses prepaid cards in tandem with its expense report solution in order to track employee spending.
Clients can define their own set of spending policies, and employees can then use the platform to track all of their expenses using the help of features like its mobile scanning tool, allowing easy uploads of receipts and other documents.
Spendesk’s platform supports EUR, USD, and GBP, and has facilitated about $49 million in transaction volume. The $9.9 million will go towards expanding the platform across Europe. Index Ventures was the lead investor in the round, with participation by other angel investors.
Read more at TechCrunch and VentureBeat.
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