Parisian automated spend management solution Expensya raises $20 million

Expensya, the Paris-based automated spend management solution for businesses has raised $20 million.

The financing was supported by MAIF Avenir and Silicon Badia with existing investors ISAI and Seventure also contributing.

The fresh funding is expected to accelerate the company’s R&D efforts as well as increase the headcount, with plans to add over 100 new faces over the course of three years. This will augment the company’s current 140 person workforce.

“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,” comments MAIF Avenir’s Milène Gréhan.

Founded in 2014 by Karim Jouini and Jihed Othmani, Expensya saw a 100% growth rate over the past year and is on a mission to provide the most comprehensive employee payment and expense management solution. The company provides expense reports, general expenses, online purchases, daily commute, and employee benefits services, ultimately freeing workers up from day-to-day admin tasks.

The Expensya solution is currently in use in over 5,000 companies across approximately 100 countries.