Spendesk announced it has raised $18 million in addition to its Series B round last year ($38 million). The new investment comes from global VC fund Eight Roads Ventures and brings the total raised to $68.5 million.
Since its Series B in September 2019, Spendesk has opened three new offices in Berlin, London and San Francisco, and increased their headcount from 100 to over 200 people.
The additional capital raised will allow the company to further scale its team to support growth.
Spendesk will also continue to expand its product offering to provide budgetary control, spending insights, dashboards, and the ability for finance teams to temporarily limit employees from spending further if they haven’t submitted their receipts.
Founded in 2016 by Rodolphe Ardant, Guilhem Bellion and Jordane Giuly within French startup studio eFounders, Spendesk now serves over 40.000 end-users at growing businesses.
The company has raised $68.5M to date including two previous rounds led by Index Ventures. Headquartered in Paris, Spendesk has offices in Berlin, London and San Francisco.