Spenmo Valuation, Funding & Investors

Spenmo is valued at $500M as of January 2022.

Last Spenmo valuation

$500M

Series B · Jan 2022

Last Spenmo funding round

$85M

Series B · Jan 2022

Cumulative funding Spenmo raised

$121M

across 3 funding rounds

Key investors in Spenmo

  • Operator Partners
  • Y Combinator
  • Tiger Global
  • Insight Partners
  • Global Founders Capital
  • Salesforce Ventures

Spenmo Overview

About Spenmo

Spenmo is a Singapore-headquartered expense management platform that equips finance teams with policy enforcement, approval workflows, and real-time spend visibility for corporate cards and reimbursements. The system prevents overspending through predefined budgets and multi-level approvals, integrates with payment gateways like Stripe and accounting tools such as Xero, and delivers analytics dashboards for outflow monitoring. Spenmo serves businesses in Asia-Pacific with mobile receipt capture and automated categorization.


Founded

2019

HQ

SingaporeSingapore

Website

spenmo.com

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$500M (Jan 2022)

Spenmo Valuation

Spenmo is currently valued at $500M, based on its Series B in January 2022.

The $85M round was led by Tiger Global, with participation from Xffirmers.

Spenmo valuation by funding round

Spenmo valuation by funding round
DateStageValuation
Jan 2022Series B$500M

Spenmo Funding History

Spenmo has raised a total of $121M across 3 funding rounds.

Spenmo's first fundraising round was a $2M pre-seed round in August 2020. The most recent completed round was a $85M Series B in January 2022.

Spenmo funding rounds

Spenmo funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2022Series BTiger Global (lead); Xffirmers$85M$500MSpenmo is a Singapore-based payables software startup offering corporate cards and automated bill payments software, providing finance teams with an end-to-end integrated view. The company raised $85.35 million in a Series B round on January 5, 2022, led by Tiger Global Management, with participation from earlier backers like Salesforce Ventures, Alpha JWC, XA Network, and Global Founders Capital. This followed a $34 million Series A round in September 2021 led by Insight Partners, which was oversubscribed and marked as Singapore's largest Series A at the time. Spenmo reported several thousand customers including startups and accounting firms by late 2021, targeting over 20 million SMEs and mid-tier companies in Southeast Asia underserved by accounting software. The company highlighted efficiency gains, with finance teams saving over 50 hours and $10,000 monthly using its platform. The funding supports expansion in Southeast Asia, where Spenmo launched in September 2020 and had attracted 19 investors by early 2022, with total capital raised reaching $99.24 million across multiple rounds.
Sep 2021Series AInsight Partners (lead); Salesforce Ventures; Broadhaven Capital Partners; Addition; Global Founders Capital; Alpha JWC Ventures; William Hockey; Reuben Lai; Commerce Ventures; Operator Partners; Ongki Kurniawan$34M-Spenmo is a Singapore-based B2B payments firm offering unlimited corporate cards, automated local payments, and cheap overseas transfers through a single dashboard to streamline payables management. It graduated from Y Combinator in 2020 and had expanded across Southeast Asia by 2021, serving several thousand customers targeting the region's 20 million SMBs that rely on spreadsheets for payables. On September 22, 2021, Spenmo raised $34 million in an oversubscribed Series A round led by Insight Partners, with participation from Addition, Alpha JWC Ventures, Broadhaven Capital Partners, Commerce Ventures, Global Founders Capital, Operator Partners, Salesforce Ventures, and angels including Ongki Kurniawan, Reuben Lai, and William Hockey. The funds were earmarked for regional expansion in Southeast Asia.
Aug 2020Pre-seedY Combinator; Flash Ventures; XA Network; Locus Ventures; Eric Kwan; Rocket Internet; Operator Partners; Iterative$2M--

Who has invested in Spenmo?

20 investors have backed Spenmo across its funding rounds, including Operator Partners, Y Combinator, Tiger Global, Insight Partners, Global Founders Capital and Salesforce Ventures.

Lead investors include Tiger Global and Insight Partners.


Spenmo Investors

Investors in Spenmo by funding rounds participated
InvestorHQRoundsRoleFirst check
Operator PartnersUnited StatesNew York City, NY2ParticipantAug 2020
Salesforce VenturesUnited StatesSan Francisco, CA1ParticipantSep 2021
Y CombinatorUnited StatesSan Francisco, CA1ParticipantAug 2020
Broadhaven Capital PartnersUnited StatesNew York City, NY1ParticipantSep 2021
XffirmersUnited StatesSan Francisco, CA1ParticipantJan 2022
Flash VenturesGermanyBerlin1ParticipantAug 2020
XA NetworkSingaporeSingapore1ParticipantAug 2020
AdditionUnited StatesUnited States1ParticipantSep 2021
Global Founders CapitalGermanyBerlin1ParticipantSep 2021
Alpha JWC VenturesIndonesiaJakarta1ParticipantSep 2021
William HockeyUnited StatesSan Francisco, CA1ParticipantSep 2021
Reuben LaiSingaporeSingapore1ParticipantSep 2021
Tiger GlobalUnited StatesNew York City, NY1LeadJan 2022

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Spenmo Competitors

Spenmo competitors include listed companies like Teamshares and Miroku Jyoho Service, and private ones like PointFive, RevenueCat, Deskera and Datarails.

Public and private companies comparable to Spenmo
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
PointFiveUnited StatesNew York City, NYPrivate--$500M-
RevenueCatUnited StatesSan Francisco, CAPrivate$30M-$500M16.7x
DeskeraUnited StatesMinneapolis, MNPrivate--$495M-
TeamsharesUnited StatesUnited StatesPublicly listed$472M($23M)$545M1.4x
DatarailsUnited StatesUnited StatesPrivate$100M-$550M5.5x
Miroku Jyoho ServiceJapanJapanPublicly listed$315M$58M$396M1.1x

Spenmo Public Comps

Spenmo is still privately-owned, but its public comps include Teamshares, Miroku Jyoho Service, Nordtech Group, Baiwang Cloud, Avant Group, Zaggle Prepaid Ocean, MCAP, Expensify, PCA Corp. and Fujian Boss Software.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Teamshares$472M($23M)1.7x1.4x(35.0x)33.2x
Miroku Jyoho Service$315M$58M1.1x1.1x6.0x-
Nordtech Group$72M$15M5.1x-25.2x-
Baiwang Cloud$109M$433K2.6x2.7x648.3x-
Avant Group$181M$35M1.0x0.9x5.3x5.7x
Zaggle Prepaid Ocean$199M$20M1.0x1.0x10.4x10.7x
MCAP------
Expensify$142M($8M)1.1x1.1x(19.6x)7.0x

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Common questions about Spenmo

When was Spenmo founded?Spenmo was founded in 2019.
Where is Spenmo headquartered?Spenmo is headquartered in Singapore, Singapore.
Is Spenmo publicly listed?No, Spenmo is a private, VC-backed company.
What is Spenmo's valuation?Spenmo was last valued at $500M in its Series B in January 2022.
How much funding has Spenmo raised?Spenmo has raised $121M across 3 funding rounds.
What was Spenmo's last funding round?Spenmo's last funding round was a $85M Series B in January 2022, led by Tiger Global.
Who are Spenmo's investors?Spenmo's investors include Operator Partners, Salesforce Ventures, Y Combinator, Broadhaven Capital Partners, Xffirmers, Flash Ventures, XA Network, Addition, Global Founders Capital, Alpha JWC Ventures and 10 others.
Which companies are comparable to Spenmo?Companies comparable to Spenmo include PointFive, RevenueCat, Deskera, Teamshares, Datarails and Miroku Jyoho Service.

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