About Spenmo
Spenmo is a company based in Singapore (Singapore) founded in 2019 by Isaq Ahmed and Mohandass Kalaichelvan.. Spenmo has raised $121.35 million across 3 funding rounds from investors including Rocket Internet, Broadhaven Capital Partners and Iterative Capital. Spenmo offers products and services including Bill Management, Corporate Debit Card, Reimbursements, and Accounting Software Integration. Spenmo operates in a competitive market with competitors including Sodexo, Concur, Volopay, AceBot and Navisteps, among others.
- Headquarter Singapore, Singapore
- Founders Isaq Ahmed, Mohandass Kalaichelvan
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Sectors
Travel & HospitalityTechnology Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Digital Services Sg Five Pte. Ltd.
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Annual Revenue
$225.17 K (USD)903as on Dec 31, 2021
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Net Profit
$-8.2 M (USD)-642as on Dec 31, 2021
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EBITDA
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Total Equity Funding
$121.35 M (USD)
in 3 rounds
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Latest Funding Round
$85.35 M (USD), Series B
Jan 01, 2022
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Investors
Rocket Internet
& 23 more
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Employee Count
Employee Count
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Products & Services of Spenmo
Spenmo offers a comprehensive portfolio of products and services, including Bill Management, Corporate Debit Card, Reimbursements, and Accounting Software Integration. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Processes bills faster with smart scanning and integrations.
Provides access to virtual and physical cards for easy spending.
Handles claims with approvals to reduce petty cash usage.
Syncs with systems like Xero for faster book closing.
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Funding Insights of Spenmo
Spenmo has successfully raised a total of $121.35M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $85.35 million completed in January 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $85.3M
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First Round
First Round
(14 Aug 2020)
- Investors Count 24
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2022 | Amount | Series B - Spenmo | Valuation | Tiger Global Management | |
| Sep, 2021 | Amount | Series A - Spenmo | Valuation | Insight Partners | |
| Aug, 2020 | Amount | Seed - Spenmo | Valuation | Y Combinator , Rocket Internet |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Spenmo
Spenmo has secured backing from 24 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Rocket Internet, Broadhaven Capital Partners and Iterative Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture and private equity investments are managed with global diversification.
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Founded Year | Domain | Location | |
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Investment firm scaling software and technology companies from early to late stages.
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Founded Year | Domain | Location | |
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Global investments in internet and technology startups are facilitated.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Spenmo
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Spenmo
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Spenmo Comparisons
Competitors of Spenmo
Spenmo operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Sodexo, Concur, Volopay, AceBot and Navisteps, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Employee benefits payment cards are provided via an online platform.
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| domain | founded_year | HQ Location |
Corporate travel expenses and invoices are managed via SaaS platform.
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| domain | founded_year | HQ Location |
Spend management platform for business payments and expenses is offered.
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| domain | founded_year | HQ Location |
AceBot is a platform offering productivity bots for Slack to boost team efficiency.
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| domain | founded_year | HQ Location |
SaaS-driven expense & travel management solution for business travelers
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Spenmo
Frequently Asked Questions about Spenmo
When was Spenmo founded?
Spenmo was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Where is Spenmo located?
Spenmo is headquartered in Singapore, Singapore.
Who is the current CEO of Spenmo?
Mohandass Kalaichelvan is the current CEO of Spenmo. They have also founded this company.
Is Spenmo a funded company?
Spenmo is a funded company, having raised a total of $121.35M across 3 funding rounds to date. The company's 1st funding round was a Seed of $2M, raised on Aug 14, 2020.
What is the annual revenue of Spenmo?
Annual revenue of Spenmo is $225.17K as on Dec 31, 2021.
What does Spenmo do?
Spenmo was founded in 2019 in Singapore by co-founders Isaq Ahmed and Mohandass Kalaichelvan. Corporate cards and expense management solutions are delivered via a cloud platform in the fintech sector. Virtual and physical cards are issued to employees, with features including automated expense reporting, online payments, per-employee payment cards, user spending limits, purchase categorization, expense analytics, and transaction data integration. Operations are based in Singapore.
What products or services does Spenmo offer?
Spenmo offers Bill Management, Corporate Debit Card, Reimbursements, and Accounting Software Integration.
Who are Spenmo's investors?
Spenmo has 24 investors. Key investors include Rocket Internet, Broadhaven Capital Partners, Iterative Capital, Tiger Global, and Insight Partners.
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