Payhawk, a leading finance orchestration platform, announced its audited 2024 financial results on September 8, 2025, showcasing an 85% year-over-year increase in IFRS revenue to €23.4 million and a 78% rise in annual recurring revenue (ARR) to €39.5 million. With a net revenue retention (NRR) of 173.5% and a gross margin of 82%, Payhawk continues to scale efficiently while advancing its AI-driven solutions for global spend management.
IFRS revenue: €23.4M (+85% YoY, ~4x since 2022).
ARR: €39.5M (+78% YoY); NRR: 173.5%.
Gross margin: 82%; operating cash burn reduced 34% to €22.0M.
Cash reserves: €109.6M; annualized ARPA up 21% to €25.9k.
Secured UK EMI license; deepened ERP integrations with Sage, DATEV.
Launched AI Office of the CFO in 2025 for intelligent automation.
Payhawk’s 2024 results highlight strong unit economics, with a non-GAAP operating loss reduced by 10% to €24.5 million and an IFRS operating loss narrowed to €31.3 million from €33.9 million in 2023. The company’s LTV/CAC ratio improved to 8.0x from 4.7x, reflecting efficient customer expansion. “The unit-economics engine is working,” said Konstantin Dzhengozov, Co-founder & CFO, noting the 34% reduction in net cash used in operations to €22.0 million and a robust €109.6 million cash reserve.
Payhawk advanced its finance orchestration platform, unifying corporate cards, expense management, accounts payable, and procure-to-pay with ERP/HR integrations. Key 2024 achievements include:
Regulatory Progress: Secured a UK EMI license to complement its EU authorization, enhancing control over payment flows.
Ecosystem Expansion: Deepened integrations with Sage Intacct, DATEV, Odoo, and Exact Globe, and partnered with J.P. Morgan Payments and American Express.
AI Office of the CFO: Launched in 2025, this feature introduces context-aware AI agents to automate expense management, procurement, and compliance workflows.
Leadership Growth: Appointed Dan Osburn (Chief Payments Officer), Thibaud Catry (Chief Compliance Officer), and Stephen Mulholland (Chief Revenue Officer) in 2025.
Payhawk’s platform automates policy enforcement, approvals, payments, and reconciliation across 32 countries, enhanced by AI agents that handle complex workflows via conversational interfaces. “We’re scaling with quality,” said Hristo Borisov, Co-founder & CEO. “Customers are adopting more of the platform as we move from spend management to finance orchestration, unifying cards, payables, and real-time payments.”
With €109.6 million in cash and strong customer adoption (NRR of 173.5%), Payhawk is poised for continued growth. Its UK customer migration plans for 2025 and ongoing investments in product innovation and regulatory infrastructure position it to meet enterprise needs in the evolving financial landscape.
For more information, visit www.payhawk.com.
Payhawk is a finance orchestration platform that unifies global spend management with intelligent automation and real-time payments. It combines corporate cards, expense management, accounts payable, and procure-to-pay processes, eliminating manual tasks and driving efficiency for businesses worldwide.
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