French spend management platform Spendesk has launched a financial services division operating under a licence from Autorité de contrôle prudentiel et de résolution, giving the firm end-to-end control over its payment services infrastructure.
Spendesk provides finance teams at midmarket companies with a SaaS spend management system for full visibility and control on all company spending — with every purchase trackable to a person, a project, and a budget. In 2022, the company hit unicorn status on a €100 million Series C funding round.
With Spendesk Financial Services, including a strategic collaboration with Visa, the company can now deliver a payments offering to its 5000 clients across France and the European Union.
Beyond payment management, Spendesk Financial Services enables the platform to centralise operational processes and introduce new features faster. The financial services include account management and the provision of various payment methods like physical and virtual business cards as well as transfers.
“With 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,” says Stéphane Dehaies, president, Spendesk Financial Services.