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Spendesk Raises $18M to its Series B Round from Eight Roads Ventures

October 13, 2020 / Business Wire
SHARESHARESHARE

Spendesk, the leading spend management platform for SMBs, today announced it has raised $18 million in addition to its Series B round last year ($38 million). The new investment comes from global VC fund Eight Roads Ventures and brings the total raised to $68.5 million. This funding will support the strong growth Spendesk has realised despite the current pandemic, which has accelerated digitisation of finance departments and increased the demand for spend management solutions. The trend towards greater decentralised spending creates complexity for finance leaders looking to monitor and control this spend, especially at the speed SMBs need to operate. More than ever, finance teams seek visibility and real-time access to accurate data to allow their businesses to maneuver safely through these challenging times,” says Spendesk CEO & Co-Founder Rodolphe Ardant.