French spend management platform Spendesk has launched a financial services division operating under a licence from Autorité de contrôle prudentiel et de résolution, granting the firm complete control over its payment services infrastructure.
Spendesk provides finance teams at midmarket companies with a SaaS spend management system that offers full visibility and control over all company spending, making every purchase traceable to a person, project, and budget. In 2022, the company achieved unicorn status following a €100 million Series C funding round.
With Spendesk Financial Services, which includes a strategic collaboration with Visa, the company can now offer payment solutions to its 5,000 clients across France and the European Union.
In addition to payment management, Spendesk Financial Services enables the platform to centralize operational processes and introduce new features more rapidly. These services encompass account management and the provision of various payment methods, including physical and virtual business cards as well as transfers.
“By launching Spendesk Financial Services, we’re not just managing payments. We now have complete control over our technological infrastructure, allowing us to innovate faster and respond more effectively to the needs of European SMEs and mid-market companies,” states Stéphane Dehaies, president of Spendesk Financial Services.