Expensya, a Tunisian based automated business expenditure management solution startup, has raised $ 20 million in Series B round from MAIF Avenir and Silicon Badia 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 automates every stage of business spend management for all companies, regardless of their size or sector.
According to its website, Expensya currently serves over 5,000 customers in over 100 countries including large corporations, mid-caps, small businesses, and freelancers. With this funding, Expensya’s goal will be to accelerate its international expansion and its deployment across mainland Europe, and ultimately become the leader for business expense management solutions. The funds will also allow Expensya to recruit, over the next three years, more than 100 new employees in addition to the 140 current 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”, states Karim Jouini, CEO and Co-Founder of Expensya.
“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.” Milène Gréhan, head of the MAIF Avenir fund
“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.” Namek Zu’bi, Managing Partner of Silicon Badia.