Expense management provider Rydoo has acquired AI-powered accounts payable automation technology provider Semine. Financial terms were not disclosed.
Rydoo supports over a million users worldwide in automating expense management, helping finance teams gain real-time control over employees’ spend.
By adding Semine's fully automated AP workflows, the firm says it is building an end-to-end offering that delivers maximum efficiency, control, and strategic insight to its clients.
The deal comes in the wake of Belguim-based Rydoo getting a new majority shareholder in the form of French PE firm Eurazeo and a push to expand its footprint in the US.
Sebastien Marchon, CEO, Rydoo, says: “This is a true convergence of visions, talents, and cultures, bringing us closer to our ambition of building a world-class platform for finance teams.”