Captio, a Barcelona, Spain-based provider of a business expenses management platform, raised €1m in funding.
The round was led by Sabadell Venture Capital with participation from Venturecap, Bankinter, Telegraph Hill Capital and Kibo Ventures.
The company intends to use the funds to continue to expand operations.
Led by CEO Joel Vicient, Captio provides a business travel and expense management solution that enables companies and their employees to improve control of their expenses and discover of new savings opportunities. The platform, which integrates the expense management process into a single, paperless workflow, eliminating the need for manual tasks and preventing fraud, features expense entry, classification, mobility, efficiency, supervision and administration.
Clients include BBVA, Bankiter, Cofidis, Ricoh, Makro, Toyota, Manpower, and others.