Expensya raises $20 million from ISAI and Seventure Partners to fuel its growth
Tunisian-based B2B expenses management company, Expensya has secured a $20 million investment from MAIF Avenir and Silicon Badia, with participation from French investors ISAI and Seventure Partners.
With the fresh capital, the company intends to scale its R&D and fuel international expansion.
According to a statement released by the company, part of the reason investors were attracted to the company was because of the 100 percent growth the company witnessed during the pandemic.
Founded in 2014, by Karim Jouini and Jihed Othmani, Expensya is a Franco-Tunisian Fintech that offers a business expense 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.
Expensya offers a complete service to its users to manage all their business expenses from A to Z. Its software solution allows companies to free themselves from low value-added tasks, making them more agile and resilient.
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 said “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 expense 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.