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, with offices in seven 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 aren’t alone in setting up Amsterdam offices for spending management solutions. Swiss startup Yokoy, which offer an AI-driven spend management platform, opened its European headquarters in Amsterdam earlier this year. At the same time, expense management firm Pleo has opened their Amsterdam office, after expanding from Copenhagen to London, Berlin, Stockholm and Madrid. As Pleo CEO Olov Eriksson notes, amid a growing Northern European shift towards a more human working culture, “The Netherlands are very ready for this shift”.

Besides its attractiveness to 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 Money 20/20, the city brings together the global fintech community, setting the stage for a new future of finance – in and beyond Europe.

Read more about Amsterdam’s finance and fintech sector, and how it is the second greenest in the world. Or find more business news of all kinds from around Amsterdam.