The first unicorn in Bulgaria – the company valued at over $1 billion Payhawk, announced that it is opening its first office in the USA. It also launches a US credit card. In March of this year, fintech became the first “unicorn” in Bulgaria, after reaching a valuation of $1 billion.
Payhawk was founded in 2018 by Hristo Borisov and Boyko Karadjov. The fintech company develops a platform for managing corporate expenses and issues corporate debit cards. It operates in the markets of 27 European countries.
The unicorn’s executives say the US launch is a key part of its expansion strategy, following a record year of growth that saw revenue rise 524 percent and headcount grow 250 percent.
The first Bulgarian unicorn replaces Campus X with Polygraphia Office Center. Will be expanding his team
The company has leased 3,000 square meters of office space in the building next to Borisova Garden in Sofia
In July, it became clear that the company is moving its business in Sofia to the Polygraphia Office Center building. At the end of June, the Bulgarian fintech rented 3,000 square meters of office space, after a detailed review of 35 alternative office spaces. Thus, the new location replaces the old one, which is located in the popular Campus X.
Payhawk is currently headquartered in London and, after expanding overseas, is active in 32 countries.
“Our goal is to focus on providing the best solution on the market for global scaleups and enterprises. Naturally, these businesses have an international presence and we want to take care of that,” said Hristo Borisov, co-founder and CEO of Payhawk
Over 10 percent of the company’s customer base is on the waiting list for their US credit card
Bulgarian fintech company Payhawk was valued at $1 billion
The platform has raised an additional $100 million in funding
“A significant number of scaleup companies in Europe have operations in the US and until now they have been forced to use multiple credit card issuers, making the control and reconciliation process a nightmare for finance teams.
The same applies to American companies with European operations, where the number of currencies and payment systems can be intimidating”, commented Borisov.
The expansion of the US business aims to better support the company’s international client base and simplify the technology stack of global finance teams.
A Bulgarian company for $1 billion is looking for 150 new employees in our country
The guest of Money.bg is the co-founder of Payhawk Hristo Borisov