Payhawk just hit $100M ARR to reach Centaur status, joining the roughly 250 private software companies worldwide to hit the milestone, a club that Bessemer Venture Partners estimates is around 7 times more rare than the $1B unicorn. By Q4, every 1 in 500 commercial card payments in Europe will be made with a Payhawk card.

And what I am most proud of is the journey it took us to get here. We burnt $120M to generate $100M ARR giving us a burn multiple of 1.2x while companies from the 2020-2021 cohort often go public with 2-3x burn multiple at the time of their IPO. Over the past 24 months, we have not only rebuilt our product to be AI-native fully served by agents, but we have also reinvented our internal operations.
 
Today, we are adding 159% more net new business with 10% less people in sales than a year ago, growing our payments volumes by 95% YoY, and our employee efficiency in the past year has increased by 75% measured by ARR per FTE. 76% of our support is fully managed by AI, we are shipping 57% more features to our customers with 22% less regressions.

We are just getting started, and we have 499 more payments to cover to get to $1B of revenue. And none of that would have been possible without the stellar team we have. 🚀🚀🚀