In the modern world, SaaS services have become an important part of business, providing fast and convenient access to technology. Companies choose cloud solutions for efficient process management and scaling.
But with new opportunities come additional challenges. Duplicate subscriptions, hidden fees, or limited functionality can turn the benefits of SaaS into significant financial losses.
Spendbase is a Ukrainian startup that helps solve these problems with its corporate subscription management platform. Mezha.Media’s editorial team figured out how this product works and develops.
What the platform offers
Spendbase was founded in 2022 by Andriy Alekseenko, an entrepreneur and co-founder of the KOLO charity foundation. The platform is the main product of the startup and offers customers a number of solutions.
For example, it allows you to automate SaaS management, track actual and planned costs, and identify suspicious shadow IT projects or licenses that are not being used.
According to Spendbase, the platform provides full visualization of subscriptions, allows analyzing their use and controlling costs based on the data obtained. The product features include a pricing model.
“Customers pay for services only after receiving real results, which confirms the value of our product and builds a high level of trust,” Spendbase representatives explain in the conversation.
Another advantage of the service is the wide coverage of various use cases, or so-called Use Cases, united around a macro problem – effective control of corporate expenses.
Who uses the tool
Today, almost 400 companies cooperate with Spendbase. The largest share of customers is from the IT sector and product companies that actively use software solutions and subscriptions.
However, the platform is suitable for any business seeking to optimize the cost of technology solutions. It can be useful for both small startups and large corporations, regardless of their industry.
The versatility of the product is also confirmed by the fact that the company is constantly expanding its presence. It started with Ukraine and this year has significantly increased its scale by entering the European Union and American markets.
“In 2024, we were able to double our customer base by expanding our geography and improving our product. We plan to at least double it next year,” Spendbase says.
How the product is developing
Today’s business is changing rapidly, and to meet the needs of its customers, the Ukrainian startup is constantly improving and working on new products.
The company recently launched the Procurement functionality, which allows you to put things in order in procurement. Spendbase calls this process one of the biggest challenges for many growing companies.
“We are ready to help business leaders who do not yet have a full-fledged procurement department but are already facing chaos in software procurement and administrative processes,” said Spendbase product manager Yevhen Nechvoloda.
One of the key principles of the product is flexible approval processes. They can be customized with linear or branched scenarios, allowing each request to follow an optimal path from submission to decision.
Another characteristic feature of Procurement is its ease of use. Automatic notifications allow you to monitor changes in the procurement process in real time and control every stage of it.
In addition to the release of the new tool, Spendbase is working on integrating artificial intelligence into the platform. AI will help to analyze subscription usage more deeply and provide more accurate insights into cost optimization.
For 2025, the startup is also preparing the global launch of several fundamentally new opportunities. Among other things, the company aims to scale up next year, in particular by entering new markets.
Financing and international activities
Ambitious plans require significant investments, and Spendbase is making progress. In 2024, the startup received $100 thousand. US from the Google for Startups Ukraine Support Fund and a grant of 50 thousand euros from Seeds of Bravery.
This funding will be used to develop new functionality for the platform, including tools for financial control, management, and cost analytics.
However, the success of the business depends not only on investment but also on its recognition, and the startup is also taking important steps to achieve this. For example, it participates in international events.
Recently, the developer won the Ukrainian stage of the Startup World Cup 2024 and represented Ukraine at the grand final. The event in San Francisco brought together regional champions from 84 countries.
It was a great opportunity for Spendbase not only to get acquainted with global innovations, but also to gain a stronger foothold in the international tech community.
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