After a very successful $4.5 million fundraise in 2018 thanks to the French fund Isai and the European venture capitalist Seventure Partners, Expensya starts a new chapter in its adventure: Following a 100% growth in the midst of a global pandemic and its repositioning as a 360° business spend management solution, Expensya drew the attention of two new investors, raising $20 Million in funds!
Expensya, the business spend digitisation solution, enters a new phase
MAIF Avenir, a French innovation capital fund, and Silicon Badia, a venture capital fund headquartered between the U.S and the MENA region were drawn by Expensya’s attractiveness, vitality, and growth potential that they invested $20 million in funds to boost our growth.
“We are very pleased and proud to be supporting the growth of Expensya, whose solution accompanies the transformation of the professional environment and strengthens organizations to make them more sustainable. We have been impressed by the company’s progress and performance since its founding and share the vision of its leader who is committed to corporate citizenship.” Milène Gréhan, head of the MAIF Avenir fund.
“After evaluating several opportunities in the general space, we were very excited to find a company that has the foresight to understand what the market needs and where the industry is heading globally in terms of moving from pure expense management 1.0 tools into next generation spend management and payments solutions. Karim, Jihed and the team at Expensya have done an amazing job building an API-first collaborative platform and are in a great position to scale moving forward.” Namek Zu’bi, Managing Partner of Silicon Badia.
The new funds will be used to provide the most comprehensive payment and expense management experience to our customers and accelerate our international expansion and reach across mainland Europe to ultimately become the leader in spend management. It will allow us to recruit, over the next three years, more than 100 employees to join our current team of 140 extraordinary talents
Investing in R&D and international growth
Thanks to our integrated offer and in-depth knowledge of the market, we offer a complete service to our users to manage all their business expenses from A to Z. Our software solution allows companies to free themselves from low value-added tasks, making them more agile and resilient.
We intend to capitalize on our strengths and demonstrate our ability to meet new business practices through our technological expertise. This round of financing will allow us to accelerate our R&D and international growth to become a giant of spend management.
“This fundraising is a testament to Expensya’s performance and reflects its ambition to be THE leader in 360° expense management. It is a powerful accelerator for the business expense automation market, offering the most comprehensive solution coupled with an optimised experience”, states Karim Jouini, CEO and Co-Founder of Expensya.
We only promise the best to our customers, stay tuned, great things are coming!