Payhawk, the spend management solution that empowers businesses to manage and control company spending at scale across 32 countries, has reported 114% YoY consolidated revenue growth for the year ending 2023 including clients such as Gaucho, Myenergi and PensionBee.
Following the growth and rising demand, the company enhances its financial infrastructure on the back of licenses in the United Kingdom and European Union by working with financial services providers / institutions like J.P. Morgan Payments and ClearBank, adding SWIFT membership, and strengthening its C-Suite team for a stage of growth.
In addition to revenue growth Payhawk reported an increase in group gross profits from “71% to 77%, driven by key strategic moves that strengthened its financial infrastructure and expanded its customer offerings.”
In October of this year, Payhawk reportedly started operating its UK EMI licence, allowing it to onboard UK customers directly rather than relying on third parties.
It also began operating its EU EMI license earlier in 2024.
This move offers Payhawk greater control over its payments infrastructure and will increase gross profit margins by as much as 10%, moving it towards the level of major software firms.
This translates to faster onboarding, faster payment processing, and the fast release of features, including fraud prevention enhancements.
Since receiving the EMI licence, Payhawk has introduced innovations like Visa credit cards in 32 countries, “real-time budget tracking and integrations with 50+ human resources systems such as Bamboo, HiBob and Workday, underscoring its commitment to delivering cutting-edge financial solutions.”
To enhance the benefits of its EMI license, Payhawk has teamed up with various players in the financial sector.
Collabs with Clearbank provide access to its own “sort code, IBANs, and UK schemes like FPS and CHAPS.”
Additionally, SWIFT membership and J.P. Morgan Payments partnership enhances Payhawk’s payment services for clients.
Payhawk partnered with Marqeta as a processor, “improving its advanced card controls to combat fraud.”
Available in 32+ countries, Payhawk’s Visa debit and credit cards offer security and convenience in corporate expense management.
Internally, Payhawk continues to strengthen its C-Suite team, with “the addition of Aya Elsority as Chief People Officer (formerly EVP People and Culture at Mambu) and other key appointments.
The firm officially announces the opening of its office in Munich, “adding to its global presence in Amsterdam, Barcelona, Berlin, London, New York, Paris, Sofia, and Vilnius.”
Payhawk is a spend management solution for businesses throughout the UK, the US, Europe.
Combining company cards, reimbursable expenses, accounts payable, and seamless software integrations into a single product, Payhawk makes business payments more accessible.
Payhawk helps customers in to boost “efficiency, control spending at scale, and stay agile.”
With offices in London, Berlin, Barcelona, Paris, Amsterdam, New York, Vilnius, Munich and Sofia, and Payhawk’s customer base includes names like Decathlon, Discordia, Luxair, Billa, Vinted, Wagestream.
