From CNBC: 2024-06-06 02:05:01

Corporate payments startup Payhawk plans mergers and acquisitions to expand in the U.S. and compete with industry giants like SAP, Brex, and Ramp. CEO Hristo Borisov believes Payhawk has better product-market fit and unit economics, aiming for market consolidation through acquisitions at the series A stage.

Payhawk sees massive growth with an 84% increase in global revenue and a 127% jump in U.K. sales. The firm acquired more clients and plans to enhance its U.S. presence through mergers and acquisitions. CEO Borisov aims for a single platform to meet all corporate expense needs and envisions the company going public in the future.

Read more: Corporate card unicorn Payhawk plans acquisitions to expand in US