What is Spenmo?
Spenmo is an all-in-one software that consolidates corporate cards, multi-currency dashboards, automated bill pay, employee expense claims, and free payroll disbursements into one sleek interface. It helps companies to keep track of their expenses and avoid overspending, fraud, and violation of regulations. Spenmo offers tailored solutions to help companies have control and visibility over their expenditure.
About the investment
MyAsiaVC invested via syndicate at Seed round at US$ 15 M valuations
The deal was referred by another founder, where MyAsiaVC invested and helped with product positionings. The founder was helping Spenmo team to get value-add investors on the cap table.
Spenmo raised Series B at US$ 500 M valuations within one-and-half year of the seed round - more than 30x of the first investment of the syndicate.