{"id":23407,"date":"2020-04-03T00:16:24","date_gmt":"2020-04-02T21:16:24","guid":{"rendered":"https:\/\/investsofia.com\/en\/?p=23407"},"modified":"2020-04-15T23:07:30","modified_gmt":"2020-04-15T20:07:30","slug":"sofia-based-startup-payhawk-raises-e3-65m-expand-german-market","status":"publish","type":"post","link":"https:\/\/investsofia.com\/en\/sofia-based-startup-payhawk-raises-e3-65m-expand-german-market\/","title":{"rendered":"The Sofia-based Startup Payhawk Raises \u20ac3.65M to Expand to the German Market"},"content":{"rendered":"<div id=\"modal-ready\"><p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" class=\" wp-image-23408 alignleft\" src=\"https:\/\/investsofia.com\/wp-content\/uploads\/2020\/04\/Payhawk-Sofia.png\" alt=\"\" width=\"259\" height=\"259\" srcset=\"https:\/\/investsofia.com\/wp-content\/uploads\/2020\/04\/Payhawk-Sofia.png 960w, https:\/\/investsofia.com\/wp-content\/uploads\/2020\/04\/Payhawk-Sofia-150x150.png 150w, https:\/\/investsofia.com\/wp-content\/uploads\/2020\/04\/Payhawk-Sofia-300x300.png 300w, https:\/\/investsofia.com\/wp-content\/uploads\/2020\/04\/Payhawk-Sofia-768x768.png 768w, https:\/\/investsofia.com\/wp-content\/uploads\/2020\/04\/Payhawk-Sofia-600x600.png 600w, https:\/\/investsofia.com\/wp-content\/uploads\/2020\/04\/Payhawk-Sofia-146x146.png 146w, https:\/\/investsofia.com\/wp-content\/uploads\/2020\/04\/Payhawk-Sofia-50x50.png 50w, https:\/\/investsofia.com\/wp-content\/uploads\/2020\/04\/Payhawk-Sofia-75x75.png 75w, https:\/\/investsofia.com\/wp-content\/uploads\/2020\/04\/Payhawk-Sofia-85x85.png 85w, https:\/\/investsofia.com\/wp-content\/uploads\/2020\/04\/Payhawk-Sofia-80x80.png 80w\" sizes=\"(max-width: 259px) 100vw, 259px\" \/>Less than two years after its start, the Bulgarian fintech startup Payhawk <\/span><a href=\"https:\/\/payhawk.com\/blogs\/payhawk-raises-e3m-in-one-of-the-biggest-seed-rounds-in-cee\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">raised a new investment of \u20ac3M<\/span><\/a><span style=\"font-weight: 400;\">. The seed round was led by the Western European Earlybird Digital East Fund, the Berlin TinyVC, and leading experts from the financial sector. The new funding will be used mainly for the expansion of the company\u2019s activities to Germany where it already has an office. Development activities and technical support remain in Bulgaria.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Payhawk was founded in 2018 by former employees of Telerik. The fintech provides software and personal debit cards that automate the management of any type of business expenses. The platform allows chief financial officers and business managers to control the expense process from one place, process billing documents, integrate their accounting software, and gather real-time reports and analyses. Payhawk\u2019s solution allows for easy integration with banking systems.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company operates in 14 countries and serves over 1000 corporate clients. The company has offices in Sofia and London, and since recently in Berlin. Currently, it has a team of 18 employees and plans to double this number within two years.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is the second big investment for Payhawk. In 2019, the company<\/span><a href=\"https:\/\/www.11.me\/blog\/welcome-payhawk-and-rebellious-software-to-oneof11\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\"> raised funding of \u20ac 500 000<\/span><\/a><span style=\"font-weight: 400;\"> from Eleven&#8217;s second fund. The total funding raised by the company from outside investors totals \u20ac3.65M.<\/span><\/p>\n<p>&nbsp;<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>&nbsp; Less than two years after its start, the Bulgarian fintech startup Payhawk raised a new investment of \u20ac3M. The [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":23408,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[179],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.14 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Sofia-based Startup Payhawk Raises \u20ac3.65M to Expand to the German Market | Sofia Investment Agency<\/title>\n<meta name=\"description\" content=\"&nbsp; Less than two years after its start, the Bulgarian fintech startup Payhawk raised a new investment of \u20ac3M. 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