Expensya secures $20M investment
Expensya, an automated spend management solution for businesses, has concluded its $20M fundraise. Two new funds, MAIF Avenir and Silicon Badia, have invested in the development of the Fintech platfrom, joining ISAI and Seventure, the two other funds that were raised in the previous round.
Founded in 2014, by Karim Jouini and Jihed Othmani, Expensya is a Franco-Tunisian Fintech that offers a business spend management automation solution for different business segments: key accounts, SMEs, and SOHO businesses. With more than 140 employees spread across four countries, Expensya currently provides solutions to more than 5000 companies in approximately 100 countries.
Karim Jouini, CEO of the Franco-Tunisian startup is committed to developing a responsible business model that creates value over the long term, first and foremost for its employees “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.”
Milène Gréhan, head of the MAIF Avenir fund commented "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.”
Namek Zu’bi, Managing Partner of Silicon Badia mentioned “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.”
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.
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