The French spend management platform Spendesk has launched a financial services unit, which is operating under a license from Autorité de contrôle prudentiel et de résolution.
The mentioned company has end-to-end control over its payment services infrastructure.
Spendesk provides financial teams at midmarket companies with a SaaS spend management system for full visibility and control of all spending. It is worth noting separately that in this case, it is possible to track each purchase for a specific person, the project, and the budget.
In 2022, Spendesk hit the status of a unicorn, implying a startup which market capitalization exceeded the $1 billion mark. The corresponding status was achieved on a €100 million Series C funding round.
With Spendesk Financial Services, including a strategic collaboration with Visa, the firm can deliver payment offerings to its 5,000 customers across France and the European Union.
In addition to managing payment transactions, Spendesk Financial Services also enables the platform to centralize operational processes and implement new functions faster.
The company provides consumers with financial services such as account management and the provision of various payment methods like physical and virtual business cards, and transfers.
Stéphane Dehaies, president, of Spendesk Financial Services, stated that the firm is currently in full control of its technology infrastructure, which allows for faster innovation and more effective response to the needs of European brands related to the categories of small and medium-sized businesses.
As we have reported earlier, HSBC Launches New Platform.
