The first Bulgarian fintech unicorn

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.

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.

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.

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

In a Series B funding round in March 2022, Payhawk has 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.

In the summer of 2020, Wirecard announced that it is working with Bulgarian fintech Payhawk to launch a new Visa corporate card that will provide companies with a simple solution for managing business expenses. Only 3 weeks after that announcement Wirecard went bankrupt, but Payhawk still launched their card via Payrnet Limited holding an eMoney Institution.

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United Kingdom, Bulgaria

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