Expensya announces a $20 million round of financing from MAIF Avenir and Silicon Badia. ISAI, the iconic French Tech fund led by Jean-David Chamboredon, and Seventure Partners, which took part in the company’s previous round of funding ($4.5 million in December 2018), also participated in the deal.
Founded in 2014 by Karim Jouini and Jihed Othmani, two former Microsoft engineers, the Franco-Tunisian FinTech initially tackled the management of expense reports before expanding its scope at the end of 2018 to all professional expenses (overheads, online purchases, public transport…). “This is a market that has been ill-equipped for at least 25 years,” says Karim Jouini, co-founder and CEO of Expensya. He adds to media: “The time when a company had 30 tools that did not talk to each other is destined to disappear.”
The mobile application allows company employees to submit expense reports by uploading invoices. This is one of the many features offered by the startup. Expensya’s expense management solution offers a powerful set of features capable of integrating with all leading ERP solutions such as Oracle, SAP and Microsoft Dynamics. It also covers travel, banking and other business applications. The software offers a complete employee payment experience covering employee expense reports, online purchasing, overhead, employee benefits and commuting.