How many people spent their NYE talking about expense management software? Just us, then. Seriously, we had a great 2021 at Payhawk, and of course, we celebrated it. Last year we helped our customers, big and small, manage their business payments and expenses more efficiently and with greater transparency than ever. And, we'll do that again in 2022 — only bigger and better.
At Payhawk, we finished the year by raising $112m in Series B. Now, in 2022 we can start to put our investment to work by making new ambitious plans to support our customers.
Corporate cards backed by innovative software are what we do best. And we'll continue to build on that. We recently spoke to Ian Johnson, MD at Marqeta, for our podcast, the untold stories of change. Johnson explained that many startups fall into the same trap of adding useless features just to stand out. This practice is the antithesis of our beliefs at Payhawk. We're driven by customer success, and our team's focus is on developing a solution that genuinely optimizes processes and provides better control and transparency with no strings attached.
In 2022, we'll continue to proactively add features that we see as crucial for the companies we support.
Customer feedback is imperative when you offer a SaaS tool, and it will remain the backbone of our decision-making. We'll also continue to learn from our own user experience; naturally, we use Payhawk's corporate cards for our own expense management.
"The mobile app notifications are very helpful. Each time an employee uses the card, they get a message to upload the receipt. Also, when a payment doesn't go through, you receive a notification explaining the reason, such as low funds or invalid PIN. I've never seen this proactiveness with a traditional bank." — Alessandro Lupo, finance director at Club Freelance.
From corporate credit products to a focus on recurring payments, 2022 will see lots more product development driven by our customers' needs. Each new feature or update will allow us to be more flexible with what we offer to our customers.
We're a customer-centric business. So, to support our customers and their specific and nuanced needs, we want to be precisely where they need us.
Our goal is to have local experts in more countries to support customer needs and expectations and help with nuanced country-specific issues. As of mid-January 2022, we have an R&D team in Sofia, Bulgaria, and teams working in marketing, sales, and customer success across Europe, in London, Barcelona, and Berlin.
We'll open new offices in Amsterdam and Paris this year. These new locations will let us help even more businesses to focus on high-priority tasks and ditch archaic expense management processes.
We're excited to open these new offices and increase our international reach, of course. Meanwhile, we'll keep serving our customers and supporting their international reach as cost-effectively and efficiently as ever.
"With Payhawk, you can avoid currency exchange fees completely by issuing a card in the same currency as your transaction. Even for transactions in currencies different from your card currency, our clients can save up to six times on exchange rate fees." Iliyana Krushkova, CFO, ScaleFocus.
The next massive milestone for our team will be to expand to a new continent and begin supporting cashless, automated expenses in the United States. It will undoubtedly be a significant and challenging move, but we have a truly powerful product, and it’s not our first rodeo.
In 2021, Sifted included us in their roundup of the fastest-growing fintechs. Now, in 2022 we've started the year with 85 talented people onboard — a massive leap from how we started 2021, with just 25 people. With the help of our growing team, we'll continue to build an outstanding product for our customers.
As always, our company culture will be driven by customer-centricity. Everyone at Payhawk has two roles, one being their primary discipline and the other, customer success.
So, here are some of our 2022 goals in a nutshell. What are yours? If they include going cashless, automating payments and expenses, and getting a clear view of spending, we can help. Book a demo with us today and see how your company could get better spend control, enhanced visibility, and eliminate 95% of your manual expense work.
Maggie has been an integral part of our journey from a modest three-person marketing team to where we are today. A jack of all trades, she navigated through social media, directed various video campaigns, and started our customer marketing function. Outside the office, she embraces the challenge of being a mediocre snowboarder.