LONDON--(BUSINESS WIRE)--Jun 26, 2025--
Spendesk, the AI-powered spend management and procurement platform, today announces a major milestone: it has achieved profitability, marking one full quarter in the black. This achievement makes Spendesk the first European spend management and procurement platform to reach profitability, a bold step forward in the industry’s evolution.
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Since its €2 million seed round in 2017, Spendesk has rapidly evolved from a disruptive startup to a profitable market leader. The company surpassed €1 billion in spend under management by 2021, then secured a €100 million Series C+ round in 2022 to reach unicorn status and €10 billion managed on the platform. Following the launch of Spendesk Financial Services, its regulated payment institution, and a strategic procurement acquisition, Spendesk doubled spend under management to €20 billion in 2024. Spendesk now processes tens of billions in purchases annually across more than 200,000 business users.
The company’s successful drive to profitability fulfills its publicly stated objective for 2025, ahead of schedule, while maintaining double-digit growth.
“Spendesk has proven that it’s possible to lead the spend management category while balancing growth with profitability,” said Axel Demazy, CEO of Spendesk. “When I became CEO in 2024, we focused on three priorities: deepening our procurement offering, driving new revenue with Spendesk Financial Services, andaccelerating internal efficiency with AI. These priorities have enabled us to achieve profitability ahead of schedule, while delivering even greater value and innovation to our customers.”
Rodolphe Ardant, founder of Spendesk, added: “We set out to transform how companies manage spending in Europe. Since 2017, we’ve integrated AI into our technology, and today thousands of customers rely on Spendesk’s AI to validate receipts and invoices, automate spend allocation in bookkeeping, and flag potential errors. Now, thanks to our new milestone of profitability, we can invest even further in the innovation our customers expect, increasing their efficiency through agentic assistants and providing deeper insights to optimise spend.”
As Spendesk enters this next chapter, it remains committed to continuing its double-digit growth by driving the next wave of transformation for finance teams. The company will invest beyond spend management, exploring AI-first opportunities in areas such as FP&A and ESG, where real-time insights and smarter decision-making will empower customers to excel.
“Profitability means more value for our customers,” continued Demazy. “Our customers can be confident they are partnering with a sustainable provider, here for the long term. Profitability allows Spendesk to keep investing in new features, put AI at customers’ fingertips, and help them make smarter decisions, ultimately optimising their P&L.”
Spendesk operates in the €70 billion Office of the CFO software industry, expected to grow at 13 percent annually through 2028. By combining advanced technology with financial discipline, Spendesk is uniquely positioned to sustain profitable, double-digit growth as the category continues to expand.
About Spendesk
Spendesk is the AI-powered spend management and procurement platform that transforms company spending. By simplifying procurement, payment cards, expense management, invoice processing, and accounting automation, Spendesk sets the new standard for spending at work. Its single, intelligent solution makes efficient spending easy for employees and gives finance leaders the full visibility and control they need across all company spend, even in multi-entity structures. Trusted by thousands of companies, Spendesk supports over 200,000 users across brands such as SoundCloud, Gousto, SumUp, and Bloom & Wild. With offices in the United Kingdom, France, Spain, and Germany, Spendesk also puts community at the heart of its mission. For more information: www.spendesk.com/press
(L-R): Rodolphe Ardant, Founder of Spendesk and Axel Demazy, CEO of Spendesk
NEW YORK (AP) — Fernando Mendoza, the mercurial quarterback of No. 1 Indiana, won the Heisman Trophy on Saturday night, becoming the first Hoosier to win college football’s most prestigious award since its inception in 1935.
Mendoza claimed 2,362 first place votes. He beat Vanderbilt quarterback Diego Pavia (1,435 votes), Notre Dame running back Jeremiyah Love (719 votes) and Ohio State quarterback Julian Sayin (432 votes).
Mendoza guided the Hoosiers to their first No. 1 ranking and the top seed in the 12-team College Football bracket, throwing for 2,980 yards and a national-best 33 touchdown passes while also running for six scores. Indiana, the last unbeaten team in major college football, will play a College Football Playoff quarterfinal game in the Rose Bowl on Jan. 1.
Mendoza, the Hoosiers’ first-year starter after transferring from California, is the triggerman for an offense that surpassed program records for touchdowns and points set during last season’s surprise run to the CFP.
A redshirt junior, the once lightly recruited Miami native is the second Heisman finalist in school history, joining 1989 runner-up Anthony Thompson. Mendoza is the seventh Indiana player to earn a top-10 finish in Heisman balloting and it marks another first in program history — having back-to-back players in the top 10. Hoosiers quarterback Kurtis Rourke was ninth last year.
Quarterbacks have won the Heisman four of the last five years, with two-way player Travis Hunter of Colorado ending the run last season.
The Heisman Trophy presentation came after a number of accolades were already awarded. Mendoza was named The Associated Press player of the year earlier this week and picked up the Maxwell and Davey O’Brien awards Friday night while Love won the Doak Walker Award.
Pavia threw for a school-record 3,192 yards and 27 touchdowns for the Commodores, who were pushing for a CFP berth all the way to the bracket announcement. He is the first Heisman finalist in Vanderbilt history.
Generously listed as 6 feet tall, Pavia led Vanderbilt to its first 10-win season along with six wins against Southeastern Conference foes. That includes four wins over ranked programs as Vandy reached No. 9, its highest ranking in The Associated Press Top 25 since 1937.
Pavia went from being unrecruited out of high school to junior college, New Mexico State and finally Vanderbilt in 2024 through the transfer portal.
Brash and confident, the graduate student from Albuquerque, New Mexico, calls himself “a chip on the shoulder guy” and he was feisty off the field, too: He played his fourth Division I season under a preliminary injunction as he challenges NCAA eligibility rules; he contends his junior college years should not count against his eligibility, citing the potential losses in earnings from name, image and likeness deals as an illegal restraint on free trade.
Vandy next plays in the ReliaQuest Bowl against Iowa on Dec. 31.
Sayin led the Buckeyes to a No. 1 ranking for most of the season, throwing for 3,329 yards while tying for second in the country with 31 TD passes ahead of their CFP quarterfinal at the Cotton Bowl on Dec. 31.
The sophomore from Carlsbad, California, arrived at Ohio State after initially committing to Alabama and entering the transfer portal following a coaching change. He played four games last season before winning the starting job. He led the Buckeyes to a 14-7 win in the opener against preseason No. 1 Texas and kept the team atop the AP Top 25 for 13 straight weeks, tying its second-longest run.
Sayin was only the second Bowl Subdivision quarterback in the last 40 years to have three games in a season with at least 300 yards passing, three touchdowns, no interceptions, and a completion rate of at least 80%. West Virginia’s Geno Smith was the other in 2012.
Sayin follows a strong lineage of Ohio State quarterbacks since coach Ryan Day arrived in 2017. Dwayne Haskins (2018), Justin Fields (2019), C.J. Stroud (2021), and Kyle McCord (2023) averaged 3,927 passing yards, 40 TDs, and six interceptions, along with a 68.9% completion rate during their first seasons.
The last running back to win the Heisman was Alabama’s Derrick Henry in 2015. Love put himself in the mix with an outstanding season for Notre Dame.
The junior from St. Louis was fourth in the Bowl Subdivision in yards rushing (1,372), fifth in per-game average (114.3) and third with 18 rushing touchdowns for the Fighting Irish, who missed out on a CFP bid and opted not to play in a bowl game.
He was the first player in Notre Dame’s storied history to produce multiple TD runs of 90 or more yards, a 98-yarder against Indiana in the first round of last year’s playoffs and a 94-yarder against Boston College earlier this season.
He padded his Heisman resume with a series of highlights displaying an uncanny ability to maintain his balance while hurdling defenders, spinning out of tackles or rolling off opponents. He teamed with Jadarian Price to create one of the season’s top running back duos, a combination that helped first-time starter CJ Carr emerge as one of the nation’s best young quarterbacks.
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FILE - Notre Dame running back Jeremiyah Love (4) carries the ball during the first half of an NCAA college football game against Pittsburgh in Pittsburgh Saturday, Nov. 15, 2025. (AP Photo/Gene J. Puskar, File)
FILE - Ohio State quarterback Julian Sayin plays against Texas during an NCAA college football game, Saturday, Aug. 30, 2025, in Columbus, Ohio. (AP Photo/Jay LaPrete, File)
FILE - Indiana quarterback Fernando Mendoza warms up before an NCAA college football game against Iowa, Saturday, Sept. 27, 2025, in Iowa City, Iowa. (AP Photo/Charlie Neibergall, File)
FILE - Vanderbilt quarterback Diego Pavia (2) celebrates a touchdown during the second half of an NCAA college football game against LSU, Saturday, Oct. 18, 2025, in Nashville, Tenn. (AP Photo/George Walker IV, File)
