Medius, a Stockholm, Sweden-based provider of accounts payable (AP) automation solutions, acquired Expensya, a Tunis, Tunisia-based management software company.
The amount of the deal was not disclosed.
The acquisition of Expensya and its AI-enabled, mobile-first, employee spend management capabilities will complement Medius’s strengths in areas such as autonomous AP, payments, procurement, sourcing, contracts and supplier onboarding.
Founded in Tunisia in 2014 by former Microsoft software engineers Karim Jouini and Jihed Othmani, Expensya uses artificial intelligence to eliminate manual data entry and automate the processing of expenses with its employee spend management solution that offers full control over spending while improving the bottom line of its customers. Its software integrates with leading ERP applications including SAP, Oracle and Microsoft Dynamics. With a workforce of 200 individuals representing 20 different nationalities spread across 4 countries, Expensya has more than 6,000 client companies and over 700,000 users across 100 countries.
Led by Jim Lucier, CEO, Medius links invoice capture, processing and payment to replace the process of managing AP with confidence. The company has more than 4,000 customers across 102 countries and processes $180 billion in annual spend through its system.
FinSMEs
08/06/2023