Expensya, the corporate expense management startup, has been acquired.
The Tunisia-based company said Tuesday that the deal is now complete with buyer Medius, the New York-based provider of accounts payable automation software.
Terms were not disclosed.
Medius’s software primarily deals with invoices, processing, and payments. The Expensya software automates the processing of employee expenses.
Medius said it completed the acquisition to give its clients a more complete set of services, and the deal also expands the buyer’s clients base into new regions.
Medius said it has more than 4,000 customers in 102 countries. Expensya has more than 6,000 clients in 100 countries, with a workforce of 200 employees.
“Expensya’s AI capabilities, employee spend management solution, and payment cards, with Medius’s AP automation platform, means we can now cover the whole indirect spend of companies and can apply the power of AI to help finance teams to optimize cost and processes across the board,” said Karim Jouini, CEO of Expensya, in a statement.
Expensya had raised a total of $25.6 million over four funding rounds, according to Crunchbase. The most recent raises were a $20 million series B round in 2021 and $4.5 million in 2018.
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