Expensya, a Tunisia-French startup has completed a $20 million funding raise from MAIF Avenir (based in Paris) and Silicon Badia (based in Aman). The raise was a Seria B that raised the company’s total sum to just over $25 million. This ensured it stood out as one of the best-funded SaaS startups across the Middle East and North Africa. The funding will be channeled to R&D and regional growth.
Expensya was founded in 2014 by Karim Jounini and Jihed Othmani who rely on its online software to automate expense management for businesses. The mobile, web and API-based tools simplify the process for all businesses to manage their expenditure without having to spend time on repetitive manual tasks.
The mobile app enables business employees to file expense reports by uploading invoices. This is one of the many features offered by the startup. Expensya, the expenses management solution offers a powerful set of features capable of integrating with all the top ERP solutions such as Oracle, SAP, and Microsoft Dynamics. It also covers travel, banking, and other business applications. The software offers a comprehensive employee payment experience covering employee expense reports, online purchases, general expenses, employee benefits, and daily commute.
Companies using the Expensya software free themselves of low value-added tasks, building agility and resilience. Expensya looks to capitalize on its strengths and demonstrate an ability to meet new business practices through the adoption of technology.
In the press release shared on Wamda, Expensya CEO and co-founder Karim Jouini described the fundraising as a “testament to Expensya’s performance.”
Milène Gréhan, who heads the MAIF Avenir fund explained how they were “pleased and impressed” to support the growth of Expensya. He also expressed delight in the startups’ “progress and performance.”
Namek Zu’bi, Managing Partner at Silicon Badia expressed excitement in funding a company with the foresight to “understand what the market needs.”
Press release at Wamda