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Business spend management company Expensya raises $20 million

Source: Expensya

Expensya, an automated spend management solution for businesses, concludes its $20 million fundraising campaign in the midst of a health crisis.

Two new funds, MAIF Avenir and Silicon Badia, have invested in the development of the fintech company, joining ISAI and Seventure, the two other funds that were raised in the previous round.

On its 7th anniversary, Expensya continues to pave its way to success with a $20 million round of funding. Following a 100% growth during the pandemic and the announcement of its new 360° spend management strategic positioning, the fintech company is writing a new chapter in its history. Its vitality, attractiveness and strong development potential have drawn in two new investors: MAIF Avenir and Silicon Badia. This is the promise of great things to come for the Franco-Tunisian company founded in 2014.

In this first quarter of 2021, Expensya carried out a new highly successful fundraising campaign. Two new investment funds are now on board: MAIF Avenir and Silicon Badia. With this, the fintech company’s ambition is set: to provide the most comprehensive payment and expense management experience involving the employee (expense reports, general expenses, online purchases, daily commute, employee benefits). Thanks to its integrated offer and its in-depth knowledge of the market, Expensya offers a complete service to its users to manage all their business expenses from A to Z. Its software solution allows companies to free themselves from low value-added tasks, making them more agile and resilient. Expensya intends to capitalize on its strengths and demonstrate its ability to meet new business practices through its technological expertise. This round of financing will allow the company to accelerate its R&D and international growth.

Accelerating its internationalization to become the global leader in spend management
Expensya’s goal is to accelerate its international expansion and its deployment across mainland Europe, and ultimately become the leader for business expense management solutions. The Expensya team is growing and strengthening to meet the challenges of tomorrow. A few days ago, Karim Jouini, CEO and co-founder of Expensya announced the arrival of Stéphanie Rogeau-Barré as Administrative and Financial Director, and Fabrice Clauzon as Director of Partnerships. Nicolas Deswarte, Marketing Director, and Mario Roche, VP Sales, were also recruited at the beginning of the year. Anh-Tho Chuong Degroote, Growth Marketing expert, has also joined the Expensya board. These new talents further strengthen Expensya's ability to assist its clients in their digital transformation (dematerialization). This fundraising will allow Expensya to recruit, over the next three years, more than 100 new employees in addition to the 140 current employees.

Karim Jouini, CEO of the Franco-Tunisian company, is committed to developing a responsible business model that creates value over the long term, first and foremost for its employees.
Fintech players are key partners in the transformation of future companies and are accompanying the transformation of the professional environment. Expensya is one of these leading players, offering a revolutionary employee expense management solution, whose mission is to optimize processes.

“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 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.

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