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Payhawk, the spend management solution with a presence across the UK and Europe, has officially launched in the US. The unicorn has opened an office in New York and is introducing a US credit card to support companies with multiple offices across the UK, Europe, and the US. The US launch is a key part of Payhawk’s expansion strategy, following a record year of growth that has seen its revenue grow 524% and its employee headcount grows 250% year to date.

The transatlantic expansion makes Payhawk the first and only company in the sector to offer the most popular card types in each country, in addition to making its spend management system available to US consumers. Payhawk now accepts a variety of credit cards and debit cards. As a result, finance teams can utilize a single expenditure management system in many regions. Payhawk is well positioned to service these with activities that overlap across the two continents given that there are more than 2.6 million enterprises with more than 100 employees in the UK, Europe, and the US.

Payhawk distinguishes itself in addition to having a distinctive worldwide reach by having a strong enterprise emphasis. It offers multi-entity management across international borders on a single platform, spending policy capabilities to assist finance leaders in implementing governance and control at scale, and market-leading native integrations with numerous business ERP systems for real-time reconciliation. Payhawk currently provides services to scaleups and businesses in 32 nations.

Payhawk’s product offering is tightly matched with corporate purchasing practices in each market with the launch of its first credit product in the US. The US VISA credit card has a broad appeal worldwide, with credit limits of up to $250,000, and individualized spending guidelines.

Clients may now sign up for a waiting list to receive an offer of up to 1.5% cashback, with the first customers becoming live in October. Payhawk is a sponsor of the Silicon Valley SaaStr Annual to further show its support for the US SaaS sector.

“Our goal is to focus on providing the best solution on the market for global scaleups and enterprises. Naturally, these businesses have an international presence, and we want to cater for that. Today, more than 10% of our customer base is already on a waiting list for our US credit card,”
“A significant proportion of scaling companies in Europe have US operations, and before today, they were forced to use multiple credit card issuers, making the controlling and reconciliation process for finance teams a nightmare. The same is true for US companies with European operations where the number of currencies and payment systems can be daunting.”
“Our expansion to the US is yet another exciting step on our journey to better support our international client base, and simplify the tech stack of global finance teams.”
                                                                Hristo Borisov, co-founder and CEO of Payhawk.
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