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Spendesk (HX16) acquires Okko (HX23) to fully integrate procurement and spend management

April 9, 2024

It's a huge day for Hexa, and an even bigger one for for Spendesk and Okko. We're excited to announce Spendesk's acquisition of Okko, to become the first European solution that fully integrates procurement and spend management for mid-sized businesses. This pivotal move not only signifies Spendesk's first acquisition but also is a testament to the company’s ambition to always stay ahead of the curve.

The Genesis of Spendesk and Okko

Spendesk and Okko both originated from our Hexa studio, with Spendesk launching in 2016 with co-founders Rodolphe Ardant, Guilhem Belion, and Jordane Giuly, and Okko emerging seven years later co-founded by Julien Chriqui and Robin Brissaud. Despite their different inception times, both companies were united by a shared mission: to simplify financial operations for businesses, with Spendesk focusing on spend management and Okko on digitalizing the procurement process.

The two companies are at the heart of our vision at Hexa (previously eFounders) that is to empower employees with efficient tools to enhance productivity and sothey can dedicate more time to vaue-added tasks.

Julien Chriqui, cofounder of Okko, pitching Okko in November 2023

Merging Paths for a Unified Solution

Okko was created to solve the problem of procurement and vendor onboarding for companies. A process that’s far from easy and can cause more admin hassle than needed due to poor workflows, lack of visibility,  and cost control difficulties for all teams involved. Okko came in with a solution that orchestrate procurement processes with easy to build workflows and collaboration at its core.

This merger is particularly significant for Spendesk's extensive client base, now numbering 5,000. It promises an enhanced spend management system that seamlessly integrates the initial steps of procurement, ensuring a comprehensive manage-from-procurement-to-payment strategy.

Looking Forward

As we reflect on Spendesk's fast-growth from a tiny idea in our studio in 2016 to a company that’s raised hundreds of millions of dollars and is now serving thousands of users worldwide,  it's particularly gratifying to witness their first acquisition. This milestone is even more special because the acquired company, Okko, is also part of Hexa.

This acquisition signifies more than the merging of two companies; it represents a shared journey towards redefining the landscape of procurement and financial management. Onwards and upwards!