The first Bulgarian fintech unicorn

Key Data

  • Trading Name: Payhawk
  • Legal Entities: Payhawk Limited, UAB Payrnet Holding, Paynetics AD
  • Activities: regulated e-Money Institution
  • Location: Bulgaria, United Kingdom, Lithuania, and other
  • Authorization: e-Money Institution regulated in UK, Lithuania, and Bulgaria
  • Related individuals: Hristo Borisov, Konstantin Dzhengozov, and Boyko Karadzhov

Founded in 2018 by Hristo Borisov, Konstantin Dzhengozov, and Boyko Karadzhov, Payhawk offers an all-in-one spend management service for small and medium businesses, including the new enterprise card.

In a Series B funding round in March 2022, Payhawk raised another $100 million, bringing the round to a total of $215 million. The company’s valuation has thus climbed to one billion dollars, making it the first Bulgarian unicorn.

The company is headquartered in London and operates offices in Sofia, Barcelona, Amsterdam, Berlin. and New York.

The Offering

Payhawk is a fintech offering credit cards, payment services, and expense management in an integrated approach. The Payhawk Visa Cards are issued by Payrnet Limited (PC42 profile) in the UK and UAB Payrnet in Lithuania.

Payments, invoices, expenses, and card spending are automated and digitized. The fintech offers a mobile app and web interface to provide its corporate clients with a comprehensive dashboard for complete control and visibility over employee spending, travel expenses, or other transactions.


Payhawk holds an impressive 4.6-stars rating on Trustpilot with a corresponding “excellent” trust level. The company ir regulated and member of


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