Expensya, the Franco-Tunisia based automated spend management solution for businesses has raised $20 million. The financing was supported by MAIF Avenir and Silicon Badia with existing investors ISAI and Seventure also contributing.
The fresh funding is expected to accelerate the company’s R&D efforts as well as increase the headcount, with plans to add over 100 new faces over the course of three years. This will augment the company’s current 140 person workforce.
From payment to reimbursement, Expensya automates every stage of the business spend management process for all companies, regardless of their size or sector. Its software adapts the most complex processes and is connected to travel solutions, accounting, payment, and VAT recovery.
Expensya automates expense reports management from the receipt stage to its archiving, by introducing technologies such as the Cloud, Artificial Intelligence (AI), Machine Learning (ML), Big Data, and Business Intelligence.
“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,”comments MAIF Avenir’s Milène Gréhan.
Founded in 2014 by Karim Jouini and Jihed Othmani, Expensya saw a 100% growth rate over the past year and is on a mission to provide the most comprehensive employee payment and expense management solution. The company provides expense reports, general expenses, online purchases, daily commute, and employee benefits services, ultimately freeing workers up from day-to-day admin tasks.
With more than 140 employees spread across 4 countries, Expensya currently provides solutions to more than 5000 companies in approximately 100 countries and is currently processing over €30M in expenses each week.