Expensya, a specialist in business expense management, announces the successful closing of a $20 million funding round. The round is led by two new funds, French fund MAIF Avenir and international venture capital fund Silicon Badia, which are investing in the development of the fintech company. Previous investors ISAI and Seventure, which were already involved in the last financing round, are also participating again.
Expensya recorded growth of almost 100% in Germany despite the current crisis. This confirmed the dynamic development and attractive corporate strategy of the fintech provider, which offers its customers a 360° solution worldwide. The high market and growth potential also convinced the two new investors: MAIF Avenir and Silicon Badia. The financing round is seen as a promising prospect for the French-Tunisian company, which was only founded in 2014.
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Expensya accelerates development in Germany
The two investors MAIF Avenir and Silicon Badia have recognized the great potential and ambitions of the fintech company Expensya: to offer the most comprehensive payment and expense management software solution on the market. It captures all costs such as expense reports, operating costs, online payments, travel expenses, etc.
Thanks to its 360° complete solution and extensive market expertise, Expensya’s users benefit from managing all their expenses Expensya recognized the market’s need for a comprehensive and flexible solution early on and successfully addressed it.
As an end-to-end solution with an intuitive user interface, the solution can adapt to the needs of companies of all sizes – from micro-enterprises to large corporations. 25% of the funding is to be invested by Expensya in research and development of its solution, particularly with regard to the introduction of new payment methods. The remainder is to accelerate international growth.
Team gears up for the future – post planned in Germany
With the funding round, Expensya intends to continue its expansion in Germany, strengthen its presence in all countries in continental Europe and become the market leader for expense management. For this purpose, the current team consisting of 140 people is to be enlarged. With the new capital, Expensya plans to recruit more than 100 new employees over the next three years. Seven new positions are planned in Germany.
Expensya is planning new positions for management, sales, marketing, and partnership management. Just recently, the Paris head office appointed Stéphanie Rogeau-Barré as administrative and financial director and Fabrice Clauzon as director of strategic partnerships. Nicolas Deswarte became part of the team as marketing director and Mario Roche as vice president of sales. The Board has been joined by Anh-Tho Chuong Degroote, Growth Marketing Expert.
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First published in moneycab, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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