In a compelling presentation at the regional “Bridge’Up” gathering in The Dot, Karim Jouini, CEO of Expensya, highlighted the transformative journey of his company, focusing on a pivotal moment in its growth: the merger last summer with Medius, a Swedish company specializing in invoice management. Jouini, who grew up in a cosmopolitan environment due to his father’s career as a diplomat, showcased the evolution of Expensya in the dynamic landscape of expense management.
“Twenty years ago, as large enterprises turned to ERPs for their management, the rise of SaaS products and specialized solutions, like Expensya, marked a turning point,” emphasized the visionary CEO. “These solutions, powered by technological advancements such as AI, have revolutionized professional expense management, providing an alternative to traditional methods like Excel spreadsheets.
Expensya has significantly transformed expense management by introducing modern digital solutions, including real-time payment cards. These cards enable clients to spend in real-time while adhering to company expense policies and local regulations, marking a substantial shift from the traditional reimbursement model. Today, the company has expanded its footprint to over a hundred countries, serving more than six thousand client businesses ranging from small enterprises to large corporations. Expensya’s product manages all aspects of professional expenses, offering transparent and efficient management from travel expense integration to issuing Mastercard cards for employees.
On the other hand, Medius’ accounts payable automation platform perfectly complements Expensya’s capabilities. The recent merger with Medius has been hailed for its synergy. Expensya brings its AI expertise for efficient expense management automation, while Medius specializes in automating processes related to accounts payable. This synergy enhances the competitiveness of businesses in a competitive enterprise applications market.
“We aspire to build a globally recognized brand. By combining our strengths with Medius, which has a strong geographical presence, we have access to broader markets. Expensya’s key markets include France, Germany, Spain, the Middle East, Northern Europe, and North America,” declares Jouini.
Expensya’s journey began at the “Cogite” coworking space in October 2014. One year later, in 2015, its first solution was launched, marking the start of a meteoric ascent, with a doubling of its user base. The milestone of 400 paying users was achieved in May 2016, just before securing its first venture capital investment in France, raising 200,000 euros and a modest debt.
The growth trajectory only intensified, culminating in 2017 with a fundraising of 1 million euros. Expensya’s success epitomizes growth and resilience in the face of adversity, including challenges posed by the pandemic. Now boasting over 6,000 clients across 100 countries and with a team of over 200 employees, Expensya perfectly embodies the image of an agile and innovative company, offering cutting-edge expense management solutions worldwide.
