Payhawk collaborates with Cafico International to launch ‘Scaling Up’

By Joy Dumasia

Payhawk, the growing platform that combines expense, payment and invoice management in one solution, and Cafico International, an experienced, independent Trust and Corporate Services Provider for those seeking to do business in Dublin, London or Luxembourg, announced the launch of Scaling Up, a guide to opening an entity in Ireland. 

This follows Payhawk’s successful launch of Scaling into the UK, a corresponding guide for launching in the UK, written in partnership with law firm Mishcon de Reya; and Scaling Up, A Guide to Opening an Entity in Germany, with nhs group, a global tax and accounting firm headquartered in Dusseldorf. Also, this launch follows hot on the heels of Payhawk’s latest funding round. Last month, Payhawk became Bulgaria’s first unicorn after closing its Series B round at $215 million.

Ireland offers an excellent opportunity for businesses looking to expand, where opening an entity is straightforward. The Irish government’s efforts in business enablement are some of the best in Europe, and Payhawk aims to support businesses in taking advantage of this positive environment. It is vital to have a trusted partner to take care of location-specific tasks, and thanks to the checklists included in the guide, and the expert tips, opening an entity in Ireland can be a painless process.  

Scaling Up is written by experts from Payhawk, with the assistance of Cafico International, aimed at startups, scaleups, fast-growing businesses and growing SMEs. It includes guidance on the benefits of opening an entity in Ireland, necessary information, how to register, corporate taxes in Ireland, employment and choosing your finance stack.

Cafico International supports companies and financial institutions by providing cost-effective, tailored and independent trust and corporate services in Ireland, Luxembourg and the UK. Payhawk worked with Cafico International to open a Special Purpose Vehicle (SPV) company in Ireland, where the experience was smooth, and the process was carried out remotely, thanks to the expert support and guidance of Cafico International. 

Hristo Borisov, CEO and Founder of Payhawk, said: ‘Expanding to a new country can be fraught with challenges, and finding reliable advice can be difficult. So many times, I’ve been approached for advice, so the appetite for guidance about opening an entity is high. We are thrilled to partner with Cafico International, who supported Payhawk and many other foreign companies to establish themselves in Ireland. Together we agreed that there is no quick and easy guide that includes all the required steps and information, so we created it ourselves!”

Henry Barrett, Head of International Business at Cafico International, said: “We are delighted to partner with Payhawk, following our successful establishment of their SPV in Ireland. We hope that Payhawk’s rapid growth – going from Series A funding to unicorn status in less than a year – can be emulated by other exciting scaleups, using the help and information contained in our guide. Payhawk brought enormous financial management experience to the creation of this guide, and our deep knowledge of Irish business requirements resulted in a successful partnership.”