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- Spenmo
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
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
Website
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
| Date | Stage | Valuation |
|---|---|---|
| Jan 2022 | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2022 | Series B | Tiger Global (lead); Xffirmers | $85M | $500M | Spenmo 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 2021 | Series A | Insight 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 2020 | Pre-seed | Y 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Aug 2020 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Aug 2020 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Jan 2022 | ||
| 1 | Participant | Aug 2020 | ||
| 1 | Participant | Aug 2020 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Lead | Jan 2022 | ||
This data is available for Pro users. Sign up to see all 20 Spenmo investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialSpenmo Competitors
Spenmo competitors include listed companies like Teamshares and Miroku Jyoho Service, and private ones like PointFive, RevenueCat, Deskera and Datarails.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $500M | - | ||
| Private | $30M | - | $500M | 16.7x | ||
| Private | - | - | $495M | - | ||
| Publicly listed | $472M | ($23M) | $545M | 1.4x | ||
| Private | $100M | - | $550M | 5.5x | ||
| Publicly listed | $315M | $58M | $396M | 1.1x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $472M | ($23M) | 1.7x | 1.4x | (35.0x) | 33.2x | |||
| $315M | $58M | 1.1x | 1.1x | 6.0x | - | |||
| $72M | $15M | 5.1x | - | 25.2x | - | |||
| $109M | $433K | 2.6x | 2.7x | 648.3x | - | |||
| $181M | $35M | 1.0x | 0.9x | 5.3x | 5.7x | |||
| $199M | $20M | 1.0x | 1.0x | 10.4x | 10.7x | |||
| - | - | - | - | - | - | |||
| $142M | ($8M) | 1.1x | 1.1x | (19.6x) | 7.0x | |||
This data is available for Pro users. Sign up to see all Spenmo competitors and their valuation data. Start Free Trial | ||||||||
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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