Company payments and expense management firm Payhawk has closed a $20 million Series A round, almost one year to date after a $3.6 million seed round.

The financing round was led by QED, a US-based fund that has invested in 18 fintech unicorns including Klarna and Nubank, with existing investor Earlybird Digital East following on. As part of the deal, Yusuf Ozdalga from QED will join the Payhawk board alongside existing investors Mehmet Atici from Earlybird Digital East and Vassil Terziev from Eleven Ventures.