Payhawk

Payhawk provides a spend management and finance orchestration platform that brings corporate cards, expense management, travel booking, accounts payable, reimbursements, budgets, subscriptions and procurement into a single system. The platform captures receipts at the point of sale, uses AI-powered data extraction in 65+ languages to read invoices and receipts, and automatically matches, categorises, codes and routes transactions for approval. Payhawk markets a set of AI agents — including a Financial Controller Agent, Travel Agent, Procurement Agent and Payments Agent — that chase receipts, route approvals and enforce spend policies. The company states 99.7% of expenses exported to the ERP require zero manual intervention.

Controls and integrations are central to the offering: configurable approval workflows, granular card limits with pre-emptive blocking at the point of transaction, budget tracking, multi-entity management with group- or entity-level controls, and a full audit trail. Payhawk offers 10+ native bidirectional ERP integrations (including NetSuite, Microsoft Dynamics Business Central, Sage Intacct, Xero, QuickBooks Online and Exact Online), 50+ HRIS integrations (such as Workday, SAP SuccessFactors, ADP, HiBob, Deel, Personio and BambooHR), SSO/SAML with Okta, Microsoft Entra, GSuite and JumpCloud, plus export templates and an API. Security and compliance credentials cited include PCI DSS Level 1, ISO 27001 and SOC 2, with licensing in the UK and EEA; the company secured an Electronic Money Institution licence from the Bank of Lithuania in 2023, enabling direct card issuance and EEA payment processing.

On the payments side, Payhawk issues Visa credit cards and provides business accounts and IBANs in seven currencies, with global payments powered by J.P. Morgan covering 115 currencies across 150+ countries, FX from 0.3%, no FX fees in 33 countries and average 1% cashback on card purchases (capped at the customer's subscription). Optional add-ons include a credit line safeguarded by J.P. Morgan, budget tracking, native bidirectional ERP integrations, enterprise HRIS connectors and additional entities.

Founding story

Payhawk was incorporated on 10 July 2018 by Hristo Borisov (CEO), Boyko Karadzhov (CTO) and Konstantin Dzhengozov (CFO), combining Borisov's product leadership from Telerik, Karadzhov's software architecture experience and Dzhengozov's finance background. They identified that mid-market companies were reconciling corporate spend with spreadsheets and paper receipts while startups had modern cards and enterprises relied on legacy ERPs. The founders bootstrapped an MVP pairing a prepaid corporate card with automated expense management and real-time accounting synchronisation, then raised a €500,000 seed round led by Eleven Ventures in early 2019. The name was chosen to convey an eagle-eyed approach to transparency and control for CFOs.

Business model

Payhawk sells a B2B SaaS platform on a subscription basis, structured as modules — Travel, Cards & Expenses, Accounts Payable and Procurement — that can be combined or purchased together as the bundled 'Payhawk Complete' package. Listed US starting prices are $299/month for Travel, $449/month for Cards & Expenses, $349/month for Accounts Payable and $499/month for Procurement. Pricing varies with the plans and add-ons selected, the number of admin/accountant seats, the number of cards and transaction volume, while employee seats, card transactions and document processing are unlimited within each module. There is no implementation fee. Optional paid power-ups include a credit line, budget tracking, native bidirectional ERP integrations, enterprise HRIS integrations and additional entities.

Recurring subscription fees per module or for the full platform, scaled by seats, cards and transaction volume, plus paid add-ons such as credit lines, ERP and HRIS integrations and additional entities. Payhawk also issues Visa cards and offers card spend cashback and foreign exchange services, with FX pricing from 0.3%.

Traction

More than 6,000 companies use Payhawk to manage spend across teams, entities and borders. The company reports 99.7% of expenses reconciled without back-and-forth and zero-touch export to ERPs, 2x faster month-end close and customer-reported outcomes such as 188 hours of manual work saved monthly, 25,000+ expenses processed monthly, 85% reduced procurement cost, 93% faster travel booking and 40% lower finance processing costs. Historically, revenue grew about 10x in 2020 and headcount exceeded 100 by the end of 2021.

Latest developments

In January 2026, Bloomberg reported that Payhawk was in early discussions to raise more than $100 million at a valuation of around $2 billion, roughly double its prior valuation, with terms not finalised. The current product line is positioned as an AI-native platform with module-based pricing and an 'AI Office of the CFO' package comprising Financial Controller, Travel, Procurement and Payments agents, alongside global payments delivered with J.P. Morgan.