Fintech unicorn Payhawk opens Amsterdam office
The Bulgarian company joins several other new Amsterdam offices of businesses providing spend management solutions.
Fintech unicorn Payhawk opens Amsterdam office
Following a record year of growth, fintech company Payhawk opens its seventh office in Amsterdam, in a bid to expand to Benelux markets. Payhawk, the first ever Bulgarian unicorn is currently headquartered in London and has offices in 7 countries. The move puts Payhawk within a particularly strong niche in Amsterdam’s thriving fintech ecosystem. It joins firms Yokoy and Pleo in pioneering spend management solutions for businesses.
Bulgaria’s first unicorn
Originally from Bulgaria, Payhawk offers various services to help manage businesses’ expenses. Its payment card and financial software aim to streamline expense payment thanks to pioneering cashback functions and overlapping operations that work across continents.
These developments have seen record growth in the company, now based in London and operating across 30 countries. A funding round earlier this year saw Payhawk become the first ever unicorn from Bulgaria, valued at $1 billion.
The opening of their Amsterdam office signals a scaling up of their access to new markets, and will be accompanied by intensive product development, expanding the Payhawk portfolio to secure their competitiveness in the market.
Fintech and spend management in Amsterdam
Payhawk isn't alone in opening Amsterdam offices for spend management solutions. Swiss startup Yokoy, which offers an AI-driven spend management platform, opened its European headquarters in Amsterdam earlier this year. Expense management firm Pleo opened their Amsterdam office after expanding from Copenhagen to London, Berlin, Stockholm and Madrid. Pleo CEO, Olov Eriksson, notes that amid a growing Northern European shift towards a more human working culture, “The Netherlands is very ready for this shift”.
Besides attracting international talent, Amsterdam already serves as a hub for fintech companies. It has already welcomed and fostered many fintech unicorns, such as Backbase, bunq and Mollie, and attracted investment in fintech and the startup ecosystem more widely at record levels throughout the fluctuations of 2022.
At events like Money 20/20, the city brings together the global fintech community and sets the stage for a new future of finance – in Europe and beyond.
Read more about how Amsterdam’s finance and fintech sector is considered one of the greenest in the world.
