Mohandass Kalaichelvan is a co-founder of Spenmo. The company was founded in Singapore in 2019 to put business payables, corporate cards and spending controls in one tool for finance teams.
In 2020 Spenmo went through the Y Combinator Summer batch. The pandemic had sent finance teams home, and many small companies in the region still paid suppliers by bank transfer and chased paper receipts. Seed money came from Y Combinator, Flash Ventures, Rocket Internet, Iterative Capital and the XA Network.
In September 2021 Insight Partners led a $34 million Series A. Addition, Salesforce Ventures, Alpha JWC, Global Founders Capital, Broadhaven, Operator Partners and Commerce Ventures also backed the round. The team then had more than 60 staff.
In early 2022 Tiger Global led a Series B, with Insight Partners, Rocket Internet, Global Founders Capital and Alpha JWC. Its rivals include Aspire, Volopay and Brex.