Latest news with #SpendManagement
Yahoo
4 days ago
- Business
- Yahoo
IPO hopeful Brex scored major win to sell in the EU, plans UK expansion
Financial services provider Brex on Thursday announced that it achieved a major milestone: it is now licensed in the European Union. That means it can now directly issue credit and debit cards and offer its spend management products to any business in all 30 EU countries with 'no workarounds required,' as co-founder and CEO Pedro Franceschi wrote in a blog post. While the corporate spend management startup previously supported 60 currencies in 200 countries, it could only sell its products to companies with a U.S. presence. With the expansion, Brex is now authorized to sell spend management (complete with issuing cards) and other tools like embedded payments to EU companies and startups, a spokesperson tells TechCrunch. However, there's a caveat: banking and bill pay will not be initially available. The company hopes to roll those services out in the future. While this is good news for Brex, it may also be good news for European startups. Brex's claim to fame is offering startups expense management cards for their employees even if they wouldn't yet qualify from traditional banks. Without a bank account offering, the youngest EU startups will still have to weigh their options. Next up, Franceschi says he wants to expand Brex in the U.K., though he offered no specifics on those plans. Franceschi said in December that Brex is on track to stop burning cash in 2025, 'an important milestone to our future IPO.' In February, sources told various news outlets that Brex was on track for $500 million in revenue this year as well. That's quite the turnaround from a shaky moment in 2023 when Brex conducted layoffs and reportedly told employees that its cash burn was too high. There has been no hint yet as to when that IPO may take place, though. Brex's competitive win in the international market comes as its U.S. fintech competitors are having an overall moment. Ramp has been raising money from VCs like mad, hitting a $22.5 billion valuation around just 45 days after a round with a $16 billion valuation. In March, Mercury raised a fresh $300 million and doubled its valuation to $3.5 billion, too. Brex has not publicly announced new equity VC funding since 2022, when it raised $300 million in a Series D-2 round at a $12.3 billion valuation. It did, however, secure a fresh $260 million worth of debt in March 2024, backed by its spend management products, to help it pay for its cash-intensive business.
Yahoo
4 days ago
- Business
- Yahoo
Spendesk Recognised as a Leader in IDC MarketScape for Worldwide AI-Enabled Travel and Expense Applications for Small Business and Midmarket
PARIS, August 07, 2025--(BUSINESS WIRE)--Spendesk, the AI-powered spend management and procurement platform, today announced that it has been named a Leader in the new IDC MarketScape: Worldwide AI-Enabled Travel and Expense Applications for Small Business 2025 Vendor Assessment (doc #US53006625, August 2025) and IDC MarketScape: Worldwide AI-Enabled Travel and Expense Applications for Midmarket 2025 Vendor Assessment (doc #US53006525, August 2025). The IDC MarketScape vendor assessment model provides an overview of the competitive fitness of technology suppliers in a given market, combining quantitative and qualitative criteria across multiple dimensions including product functionality, AI innovation, customer experience, scalability, global delivery, and alignment with evolving market needs. This Worldwide AI-Enabled Travel and Expense Applications assessment examined solutions' ability to deliver integrated, secure, and user-friendly travel and expense workflows. We believe this recognition reflects Spendesk's commitment to advancing AI-driven transformation in financial operations. Our unified platform is purpose-built for European finance teams and designed to centralise expense control, streamline workflows, and deliver actionable insights. It follows a year of landmark achievements: Spendesk reached company-wide profitability ahead of plan, validating a sustainable SaaS model and supporting continued product investment. In recent months, Spendesk has launched Spendesk Financial Services, its regulated payment institution, and introduced international payments in 30+ currencies in partnership with Wise Platform. "In our view, being recognised as a Leader by IDC MarketScape is a testament to our mission of empowering mid-market and scaling companies with smarter financial operations," said Axel Demazy, CEO of Spendesk. "We see this recognition as validating our profitable, SaaS-driven platform for organisations with 50–1,000 employees. By placing AI and automation at the heart of our solution, we enable finance teams to manage every spend workflow and deliver exactly what today's CFOs need. With continued investment in AI since 2016, we are committed to providing real-time insights that empower customers to make faster, more informed decisions." About IDC MarketScape IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers. About Spendesk Spendesk is the AI-powered spend management and procurement platform that transforms company spending. By simplifying procurement, payment cards, expense management, invoice processing, international payments, and accounting automation, Spendesk sets the new standard for spending at work. Its single, intelligent solution makes efficient spending easy for employees and gives finance leaders the full visibility and control they need across all company spend, even in multi-entity structures. Trusted by thousands of companies, Spendesk supports over 200,000 users across brands such as SoundCloud, Doctolib, Sézane, Printemps, Deezer. With offices in the United Kingdom, France, Spain, and Germany, Spendesk also puts community at the heart of its mission with CFO Connect. For more information: View source version on Contacts Media Contact: Mary Barthe, Communications, Spendesk, Michyl Culos, Director of Brand & Communications, Spendesk,
Yahoo
14-04-2025
- Business
- Yahoo
U.S. Bank introduces Spend Management for business owners
Digital platform brings together robust credit card controls, integrated accounting and intuitive receipt capture MINNEAPOLIS, April 14, 2025--(BUSINESS WIRE)--U.S. Bank today announced a new Spend Management platform to help businesses monitor, track, and control their card-based spending. A leader in business banking and payments, U.S. Bank is introducing the all-in-one spend management platform across its full portfolio of business banking credit cards to give business owners an alternative to using multiple tools. Spend Management helps business owners drive down costs, reduce manual work, and save time through the use of robust card controls, integrated accounting, intuitive receipt capture, and more – all within a single, easy-to-use dashboard. "This innovative spend management solution is built directly into our existing credit card experience to give our cardholders an effortless way to manage their business expenses without additional applications or setup," said Courtney Kelso, head of U.S. Bank Payments: Consumer and Small Business. "It's an additive capability on our credit cards that provides our cardholders with the convenience of monitoring, controlling and tracking business spending – while continuing to enjoy the great rewards and benefits already associated with their business credit cards. With Spend Management, those same cards are an even more enriching tool for operating a business." U.S. Bank Spend Management gives owners more control over their employees' card spending, empowering them to easily manage card permissions and integrate their expense policies before employee spending happens. With the platform, business owners can: Monitor spending and set spending controls for card use. For example, a business could limit employees to purchase only fuel at a gas station. Turn employees' credit cards on and off with one click. Assign cards to specific employees, job sites, or departments. Control and adjust spend limit requests for cards on the fly. Upload receipts to match transactions automatically. See a 360 view of all of their business spending, with real-time analytics and custom reports. Organize and export all spending to their accounting platform of choice. Improve their cash flow while simultaneously earning high value rewards from their U.S. Bank credit card. "U.S. Bank Spend Management is a game changer for managing business expenses," said Shruti Patel, chief product officer for business banking at U.S. Bank. "Within a single user-friendly interface, business owners can take control of their card spend and access continuous tracking with real-time visibility into spending habits and patterns, enabling them to monitor their cash flow and adjust their budgets accordingly. Spend Management helps business owners work smarter, not harder, with many time-saving functions, leaving them with more time to focus on their business. This capability is the perfect enhancement to our exceptional family of business credit cards." Spend Management is part of U.S. Bank's comprehensive suite of solutions across banking and payments. The platform is currently available for customers who have a U.S. Bank business credit card. New and existing cardholders can explore Spend Management by visiting Learn more about the U.S. Bank suite of integrated banking and payments solutions at About U.S. Bank U.S. Bancorp, with more than 70,000 employees and $678 billion in assets as of December 31, 2024, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2024 World's Most Ethical Companies and one of Fortune's most admired superregional banks. To learn more, please visit the U.S. Bancorp website at and click on "About Us." DISCLOSURES Equal Housing Lender Loans and lines of credit are offered by U.S. Bank National Association. Deposit products are offered by U.S. Bank National Association. Member FDIC. U.S. Bank may change APRs, fees and other account terms in the future based on your experience with U.S. Bank National Association and its affiliates as provided under the Cardmember Agreement and applicable law. View source version on Contacts Tessa Bajema, U.S. Bank Public Affairs and Communications Rick Rothacker, U.S. Bank Public Affairs and Communications Sign in to access your portfolio
