French spend management platform Spendesk has launched its own financial services division under a payment institution license from the Autorité de Contrôle Prudentiel et de Résolution (ACPR), gaining full control over its payments infrastructure.
The move marks a significant milestone for the company, which achieved unicorn status in 2022 after raising €100 million in a Series C funding round.
What’s New?
Spendesk Financial Services, developed in partnership with Visa, will deliver an integrated payments offering to 5,000 clients across France and the European Union. The services include:
- Account Management
- Physical and Virtual Business Cards
- Payment Transfers
Why It Matters:
By managing its payments infrastructure in-house, Spendesk aims to:
- Centralize operational processes for its clients.
- Deliver new features faster to better serve European SMEs and mid-market companies.
- Improve visibility and control over all company spending, ensuring every purchase is tied to a person, project, and budget.
Stéphane Dehaies, president of Spendesk Financial Services, emphasized:
“With Spendesk Financial Services, we’re not just managing payments. We now have complete control over our technological infrastructure, allowing us to innovate faster and respond more effectively to the needs of European SMEs and mid-market companies.”
This development solidifies Spendesk’s position as a leading SaaS spend management platform while expanding its offerings in the competitive fintech ecosystem.
