Payhawk has received an EMI license and opened an office in Lithuania, increasing its global presence to eight offices. This recent milestone culminates 12 months of high growth for Payhawk, during which it opened an office in New York, and the total headcount grew 82%.
Payhawk, the global spend management solution, is now a licensed European Electronic Money Institution (EMI).
"We are thrilled to achieve another important milestone in our journey to reinvent how businesses spend," said Hristo Borisov, CEO and Co-founder of Payhawk. "Exceptional product development combined with a relentless customer focus is in Payhawk’s DNA, and the license unlocks new innovation possibilities for us. By controlling more of the payment processing stack, we can move faster and optimize the infrastructure to best address the needs of our clients - fuelling innovation.”
“Besides our PCI DSS Level 1, SOC 2 and ISO 27001 certificates, the license provides comprehensive validation that Payhawk adheres to robust capital, regulatory, and security standards."
In addition to receiving the EMI license, Payhawk opened an office in Lithuania, increasing its global presence to 8 offices. This recent milestone culminates 12 months of high growth for Payhawk, during which it opened an office in New York, and the total headcount grew 82%.
Combining corporate cards , reimbursable expenses, accounts payable, and seamless accounting and ERP software integrations into a single product, Payhawk now serves clients in 32 countries and offers businesses across EEA, the UK, and the US a single global solution.
The EMI license is granted by the Bank of Lithuania, which is known for proactively supporting innovative financial companies and empowering digital transformation. With the license, Payhawk can control more payment processing stack, accelerating innovation.
"With the new license, one of our top priorities is further expanding our payment options. For example, we currently offer customers the choice between debit and credit cards in some markets, but we want to offer this flexibility to all our clients," added Hristo Borisov.
Payhawk plans to continue prioritising new features serving mid-market and enterprise clients. In May this year, Payhawk released a new Enterprise Plan that included native integrations with Microsoft Dynamics 365 Business Central, 365 Finance, and Oracle Netsuite ERPs, and multi-entity management functionality that helps businesses better manage spend and liquidity across different entities.
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