The Tunisian Expensya startup, which succeeded to reach a client portfolio of some 4,000 companies through an expense management automation solution, recently announced its € 4 million fundraising from ISAI and Seventure Partners, as well as TDR and Business Angels, investors which renew their confidence to this company. The Expenya startup application consists of the automation of the entire expense management process within a company. In 2017, the Tunisian start-up founded by Karim Jouini, joined by his friend, Jihed Othmani raised one million euros from business angels and Bpifrance.
The two partners Karim Jouini and Jihed Othmani have signed a commercial partnership with Uber: from November, their solution is integrated into the US transport application.
“I hate expense reporting, it needs to become automated, and fast so I turned a pain to a startup” said Karim Jouini CEO of Expensya in an interview with TunisianMonitorOnline.
The idea came out of suffering when I was in Microsoft I hate expense management and report, he indicated.
Expensya is a Tunisian start-up whose mission is to automate the management of the expense reports. For example when an employee is on mission he spends for services and all these expenses will be accumulated and sent to the company to be reimbursed through the Expensia application, Karim Jouini explained.
4,000 companies in some fifty countries have adopted Expensya. Among its recent conquests, the group BPCE, OVH, Thales, Intersport or Tupperware. Each week, ten million euros in fees are processed through the application – a figure that doubles every five months since 2016, he went on saying.
Market leader in France in terms of growth, the Tunisian start-up obtained archival status in 17 countries. In other words, the customer can throw the paper. The application, translated into eight languages, also adapts to the local accounting rules of some fifty countries and the specificities of companies.
After leaving Microsoft, Karim Jouini moved to Tunis in September 2014. He already has a team of four engineers and premises. The startup took root in Cogite, a coworking space located at Berges du Lac, the business district of the capital. “Cogite helped us recruit and find a network,” noted Expensya’s founder.
The start-upper starts with around 200,000 euros, including its savings and the support of Réseau Entreprendre, Bpifrance and Paris Initiative. In May 2015, the first beta version of Expensya is ready. The application wins its first customers, small and medium-sized French SMEs.
“The objective was also to reassure them, explains Expensya CEO, especially on the protection of stored data and, on an organizational level, to suffer less from the constraints of visas.” To open this office, the two partners benefit from the support of their entourage who invest 200,000 euros in the company. And, quickly, acquire their first big fish: Elior, Grant Thornton and Viseo Group.
Expensya currently has about sixty employees, fifteen in Paris and forty-five in Tunis.. The start-up has opened twenty engineering positions for which it seeks to recruit locally and among the diaspora community.
“Tunisia is not attractive for experienced Tunisian engineers. To attract them to Expensya, they are treated better than elsewhere, “explains Karim Jouini.
Expensya also helps young people who wish to settle in Tunisia. “We are trying to be active in contributing to Tunisia’s entrepreneurial ecosystem,” says Karim Jouini. Our impact, it is there. We want to prove by example that it is feasible, “adds the entrepreneur.
Selling dreams to inspire others to create their start-ups, the two partners are also motivated to make their company one of Tunisia’s future champions.
Addressing to Tunisian young talent who wants to launch a project, Karim Jouini advised them not to underestimate themselves and take care of the startup team so as to grow with the company. Training and coaching are needed on a regular basis for the company to succeed and