Expense management solution developer Expensya raises $4.5 million for its expansion in Europe
By Ecofin Agency
Expensya, a Franco-Tunisian firm that develops web and mobile expense management systems, raised $4.5 million from many investors.
The French fund ISAI that finances early stage internet companies, Seventure Partners, which invests in digital technologies and life sciences, took part in this operation along many angel investors.
The startup founded in 2014 by Karim Jouini and Jihed Othmani plans to boost its research and development capacity, expand its operations on the French market and at the international level, as well as recruit marketers to meet its customers’ demands.
Expensya, which offers its services in 60 countries in the world, also initiated partnerships with European companies to develop expense management solutions for business travellers.
"In a large and changing expense management market, we are convinced thatwe have the qualities to continue to grow at a sustained rate", indicates Ludovic Denis, associate at Seventure Partners.