Expense management solutions provider Rydoo, a global leader in expense management solutions, has announced the acquisition of Semine, a provider of AI-powered accounts payable automation (APA) technology.
Rydoo is an AI-powered expense management platform that gives businesses full control over employee spending. Employees submit expenses in seconds, while finance teams gain real-time visibility and control with automated workflows, real-time policy checks and insights for higher compliance and efficiency.
Rydoo currently supports over 1 million users worldwide in automating expense management, helping finance teams gain real-time control over employees’ spend while significantly reducing manual workload.
Semine is an AI-driven accounts payable automation platform designed to streamline and optimise financial processes. Today, Semine processes millions of invoices and is utilised by over 10,000 companies in the Nordics and beyond.
The acquisition of Semine aligns with Rydoo’s mission to empower finance teams with the best-in-class solution for their spend processes. Semine brings a strong domain expertise, trusted customer partnerships, and a powerful technology platform.
By combining market-leading expense management with fully automated AP workflows, Rydoo and Semine are building an end-to-end solution that delivers maximum efficiency, control, and strategic insight.
In 2024, Rydoo welcomed a new majority shareholder, Eurazeo, providing renewed backing to accelerate its strategic ambitions.
Since then, the company has expanded its footprint in the US and continued its strong growth across new geographies.
“We are excited to welcome Semine to the Rydoo family”, said Sebastien Marchon, Rydoo’s CEO.
“Both of our companies are rooted in the same essential values: customer obsession, product excellence, humility, collective intelligence, and passion.
This is a true convergence of visions, talents, and cultures, bringing us closer to our ambition of building a world-class platform for finance teams.”
“This partnership not only allows us to broaden our product portfolio but also accelerates our ability to bring cutting-edge solutions to a wider European market. What truly matters to me is that Rydoo shares our passion for technology and excellence — together, we’re poised to deliver the most advanced and future-ready offering in the industry”, said Bjørn Røsten, Semine’s CEO.
According to Benjamin Hara, Partner at Eurazeo Elevate:
"Semine’s acquisition lies at the core of Rydoo’s strategic roadmap: build a leading international spend management software.
The two companies and teams share a lot in common, making the combination a great match. We’re proud to support Sebastien and Bjørn’s teams in the beginning of their common journey.”
Would you like to write the first comment?
Login to post comments