June Fund is a global technology investment firm. Established in 2017, the fund has invested in more than 25 companies, most of which tackle large global markets through technology. They are based in Germany and invest worldwide.
As a technology fund, June Fund was looking into expense management solutions in Europe, and we came across Payhawk. We also liked the fact that Earlybird’s Digital East team had backed the company early in 2020. We were intrigued to get to know more about the company and the team and we contacted Hristo, the CEO, right away.
Payhawk targets mid-size companies and underserved markets
Payhawk had a different pitch than the other expense companies we were talking to. Payhawk focused not so much on startups and small companies but on mid-size companies. June Fund thought this was a great niche for a solution like Payhawk, not too big where all systems are in place and not too small where revenue comes from a higher number of smaller deals.
Another interesting factor about Payhawk is that it is available in markets where competition is not so high, like Central Europe, Spain, and Germany.
"What we love about Payhawk is the amazing FX rates, as we travel plenty around the world. My team is also very happy with the support team."
How Fintechs are changing the way we do business
While we were doing the interview, David asked us about how we deal with the change of mentality in companies that manage expenses for more than 20 years with personal cash and reimbursements. The answer is simple, at Payhawk, we try to convince the finance director of two things; First, they will save time and money using an expense platform with cards. No more expense reports, no more chasing your team for receipts, and no more paying personal credit card fees. Second, they will have 100% control of all expenses in real-time.
This is one of the virtues of Fintech companies like Payhawk, we can compile all expense data in one simple platform. This is a game-changer for many CFOs and finance leaders, and they are willing to give it a try.
If you want to know more about how Fintech companies are improving the life of business and consumers, you can read our free ebook we wrote together with Curve, here. Or, if you want to know more about us book a demo.