Bulgaria’s first unicorn Payhawk, a fintech startup that offers spend management software, announced on Monday that it has launched its services in Lithuania and opened a local office in Vilnius.
The startup says it is looking to engage a team of financial specialists to help accelerate product development after recently obtaining an Electronic Money Institution (EMI) licence from the Bank of Lithuania.
“Business spend, reinvented”
Founded in 2018 by Hristo Borisov and Boyko Karadzhov, and later joined by Konstantin Dzhengozov, Payhawk is a fintech startup that combines expense management, payments and invoice management in one solution and works as a one-stop-shop for finance teams.
According to the company, finance teams still conduct a considerable amount of manual work due to various disconnected tools for cards, payments, invoicing, and expenditure management. Payhawk claims to reduce this by combining those key elements in a single platform.