Spenfi provides an all-in-one platform to automate finance-team operations and facilitate collaboration between finance and non-finance employees, combining expense management with embedded financial services such as payment cards, bank transfers, and currency exchange. The product is delivered as a web app for finance managers and a mobile app for employees who need funds, cards, and budget access on the go. The company was founded in 2019 by Povilas Žinys, Vladyslav Tkachuk, and Yuriy Rachek and began in the Startup Wise Guys accelerator. Spenfi uses Open Banking and embedded finance to speed up operational finance without becoming an electronic money institution. It targets SMEs that need integrated tools with accounting and banking integrations to replace Excel and disjointed tools. The startup is fully operational in Lithuania and the Netherlands and plans to scale further in the Netherlands, Germany, and the UK using new funding.

Total raised

$1M

Funding rounds

1

Latest round

Seed

Latest activity

Aug 2023