The capital increase will enable Expensya to continue to invest in digital processing, archiving and processing technologies to make expense reports intelligent, said Karim Jouini, co-founder of Expensya.
The firm will also intensify recruitment of sales forces and deploy its strategy internationally, Jouini added.
Founded in 2014, the startup is based on e-learning and intelligent processing, and manages close to €1 million expenses per week from customers such as Viseo, Elior Group, TLD, and Tecsidel.
The startup offers companies and accounting firms cloud, web, and mobile software to report expenses.
Expensya allows SMEs to easily report their expenses by capturing them on a phone and hosting them in the cloud.
This enables them to manage employee expenses and export the data to several accounting platforms.