Startup Spotlight #11: Payhawk

At Hackquarters Headquarters (I always wanted to say that), our latest addiction is Fintech! As our long-time followers are already…


At Hackquarters Headquarters (I always wanted to say that), our latest addiction is Fintech! As our long-time followers are already aware that we love blockchain, we hosted first official NEM Meetup in Istanbul and that was just our first step into blockchain economy. Even if blockchain lovers like us love to say that “Blockchain is not just fintech!”, mosty it is about Fintech.

We recently started our Visa Innovation Program, which is a 6 month accelerator program for Fintech startups in Turkey. In our launch event, we had a lovely guest as our keynote speaker, who also runs a very exciting startup called Payhawk.

Hristo Borisov, CEO of Payhawk

Payhawk is, briefly, an expense management system for companies. But when you get into the features, that is when you see it’s real magic. You can find more detailed info about Payhawk from Bulgaria in the following sections, with their founders’ own words.

You can always apply for Startup Spotlight from this link. We will also include you into our network and you will be notified about our upcoming events, calls for programs and get exclusive invites.

What is the name of your startup?
Payhawk

What is the website address of Payhawk?
https://payhawk.io/

Where is your startup based?
Bulgaria

What are your targeted verticals for your startup?
Fintech

Tell us what your startup does.
We simplify expense management for small businesses with smart Visa cards.

Tell us about your team.
10 employees based in Sofia and Vienna. Previously part of the Telerik team where our company got acquired for $263.5 million dollars in 2014.

When and why did you found your startup?
We did a lot of traveling and expense management at Telerik. It was always super hard to comply with all the requirements from our accounting team when submitting our expenses so we thought that there must be a better more digital way to solve this problem in 2018…

What are your key and unique features?
We issue smart cards that automatically do your expense report in real-time. Your company can monitor and control spend without dealing with spreadsheets and manual data entry.

What is your growth like?
25+ customers from 6 countries in less than 4 months after going live

Tell us about the numbers that matter to you.
We care about happy customers.

What are your plans for next year and the next 5 years?
In the next year, we plan to create a product that automates everything related to expense management. From automatically extracting invoices from your Gmail and attaching them to your card transactions to detailed analytical charts on where and how your company is spending money. For the future, we plan to become the world’s biggest bank without holding a single dollar in our premises.

Did you receive any investments?
Yes, we closed a 500,000 euro pre-seed round in February 2019 from Eleven Ventures and 8 business angels.

Tell us 3 startups that excite you, and why?
Intercom, Robinhood, Airbnb.



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"Startup Spotlight #11: Payhawk" written by Gökhan Menge on 14 June 2019