Payhawk Reports Stellar Growth and Announces Strategic Appointments and Partnerships

Published about 2 months ago

Global spend management platform, Payhawk, recorded an impressive 89.4% global annual growth in its SaaS revenues for the year 2023. The company also saw a robust net revenue retention from new customers in the same year, standing at 151%.

Executive Team Expansion

Payhawk has made key appointments to bolster its executive team, among them is Maor Fishman who will serve as General Counsel. Fishman joins from fintech leader, where he was Deputy General Counsel. Fishman’s experience in strategic leadership, regulatory frameworks, data protection, and financial services is expected to guide Payhawk’s ongoing expansion.

Earlier this year, the company also welcomed David Ward as SVP of Customer Success and Pedro Batista as VP of Payments & Operations. Both Ward and Batista bring over 20 years of experience in FinTech and SaaS from companies like Plaid and MuleSoft.

Recognition and Awards

Payhawk’s seasoned leadership team has already begun to make a mark. The company was recently ranked as a Leader in G2’s Winter 2024 reports for Expense Management and Invoice Management. It also secured the #2 spot globally for Payment Card Issuance and was named among the Top 50 Software providers in the UK by G2.

Strategic Partnerships and Product Expansion

Key to Payhawk’s momentum is an intensified focus on partnerships, innovations, and integrations. The company now features a native Microsoft Dynamics integration and has over 40 joint customers since joining the Microsoft partner program.

The company has also joined the Oracle NetSuite and Quickbooks marketplaces and introduced a new partnership with Wise to power international payments for its customers in over 60 currencies.

Payment Innovation and Future Plans

As a principal Visa Europe member, Payhawk can directly issue Visa cards, accelerating payment innovation for its clients worldwide. Founder and CEO of Payhawk, Hristo Borisov, stated that expanding payment options is a top priority for the company. This includes offering customers the choice between debit and credit cards in all markets.

The company also plans to increase its UK headcount by 44% on the back of strong performance in 2023 and newly granted Electronic Money Institution (EMI) licenses.

Security and Compliance

Payhawk’s developments are built on an advanced and externally validated security and compliance framework, with SOC 1 and 2 certifications, as well as PCI DSS Level 1 and ISO 27001. Further cementing its technology, Payhawk recently received accreditation from the Institute of Chartered Accountants in England and Wales (ICAEW) after a thorough examination of its systems and processes.

Entering 2024, Payhawk is well-positioned to continue scaling its platform and reinforce its position as a global spend management leader.