Spendesk, a Paris-based fintech that specializes in expense management, said it raised $38 million in a Series B financing round led by Index Ventures.

The new funding will help the firm develop new products and grow its international presence, with plans to triple its U.K. presence and open a London office by mid-2020 and to open in Berlin. 

A spokesman for the company said the U.K. is one of the firm's fastest growing markets, and the opening of a local office in London will help serve that market, however, the firm will remain flexible enough to deal with any issues related to Brexit. 

"Our mission is to help businesses spend smarter everywhere; that is not a question of regulations or borders,” Patrick Whatman, a spokesman for Spendesk, told Mobile Payments Today via email. "But of course we'll be flexible enough as a business to react to any developments that might follow Brexit within the next months.”

The Berlin offices are currently open and mark the firm's first foreign expansion, he said. The company plans to hire between 30 to 50 people there. 

Spendesk combines physical and virtual payment methods with several automated features, including invoice management, automatic receipt capture, real-time spending analysis and other features. 

Cover image courtesy of Spendesk.