Tunisia-based B2B expenses management solution Expensya has raised a US$20 million funding round to scale its R&D and fuel international expansion.
Founded in 2014 by Karim Jouini and Jihed Othmani, Expensya offers a software-as-a-solution (SaaS) platform that helps businesses of all sizes manage their expenses. So far, it has serviced over 5,000 companies in approximately 100 countries.
After previously raising funding in 2016, 2017 and 2018, it has now concluded a US$20 million funding round from MAIF Avenir and Silicon Badia, with participation from French investors ISAI and Seventure Partners.
This round of financing will allow the company to accelerate its R&D and international growth.
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.
The startup saw 100 per cent growth during the pandemic, and is now working on providing the most comprehensive payment and expense management experience for its customers. Expensya also plans to recruit more than 100 new employees over the next three years.
“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 optimized experience,” said Jouini.
Milène Gréhan, head of the MAIF Avenir fund, said her fund was proud to be supporting the growth of Expensya, whose solution “accompanies the transformation of the professional environment and strengthens organisations 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,” she said.
