Spendesk raises $38.4 million for its corporate card and expense service

French startup Spendesk has raised another $38.4 million Series B round with existing investor Index Ventures leading the round. The company has raised $49.4 million (€45 million) over the years.

Spendesk is an all-in-one corporate expense and spend management service. It lets you track expenses across your company, empower your employees with a clear approval process and simplify your bookkeeping.

The service essentially works like Revolut or N26, but for corporate needs. After you sign up, you get your own Spendesk account with an IBAN. You can top up that account and define different sets of policies.

For instance, you can set payment limits depending on everyone’s job and define who’s in charge of approving expensive payments. After that, everyone can generate virtual cards for online payments and get a physical card for business travel.

When you’re on the road, you can pay directly using Spendesk just like any corporate card. If you have to pay in cash or with another card, you can take a photo of the receipt from the Spendesk mobile app and get your money back.

Many Spendesk users also leverage the service for other use cases. For instance, you can define a marketing budget

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