UK fintech firm Payhawk has announced plans to increase its London workforce by 44%. The move follows a successful year, which saw the company achieve impressive revenue performance and acquire its UK EMI Licence amid challenging economic conditions.
Payhawk, a global expert in spend management, boasted an 89.4% surge in SaaS revenues worldwide in 2023, topped with a new customer net revenue retention rate of 151%. Riding the wave of its robust product momentum into 2024, the firm announced a variety of new appointees, strategic partnerships, product expansions, and job openings across multiple markets.
Joining the executive team is Maor Fishman, the new General Counsel previously associated with fintech Checkout.com. His primary focus at Checkout.com was around financial services regulations and data protection. Fishman's rich strategic leadership background in data protection, regulatory frameworks, and financial services will be pivotal in steering Payhawk's continued expansion.
The installation of Fishman follows the selection of two other high-profile appointments earlier this year. David Ward has taken the helm as SVP of Customer Success, and Pedro Batista has moved into the role of VP of Payments and Operations. Ward and Batista's combined experience of over 20 years in Fintech and SaaS from their time at companies like Plaid and MuleSoft will be invaluable in moulding Payhawk's high-growth payment products.
The company's strategic focus on integrations, innovations, and partnerships is key to its current momentum. Payhawk has just launched a native Microsoft Dynamics integration. It has also joined the Oracle NetSuite and Quickbooks marketplaces and established a new partnership with Wise to power international payments for all of its customers across more than 60 currencies.
Payhawk can now directly issue Visa cards as a principal Visa Europe member, thus speeding up payment innovation for clients worldwide. Hristo Borisov, CEO of Payhawk, said, "With our new Visa membership and recently granted Electronic Money Institution (EMI) licences covering the UK and EEA, one of our top priorities is further expanding our payment options. For instance, we will soon provide customers with the option to choose between debit and credit cards in all markets."
"On the back of the strong performance in 2023 and new licences, we are planning to increase our headcount in the UK by 44%," stated Borisov.
The company's recent accolades and advancements are founded on a highly developed and externally validated security and compliance framework that includes SOC 1 and 2 certifications, PCI DSS Level 1, and ISO 27001. As a testament to its technology, Payhawk has also been accredited by the Institute of Chartered Accountants in England and Wales (ICAEW), following an exhaustive evaluation of its systems and processes.
With a comprehensive line-up of third-party validations, major integrations, and a customer-centred strategy, Payhawk is entering 2024 poised to continue amplifying its platform and bolster its position as a global spend management frontrunner.