Paytech Medius to acquire expense management firm Expensya
Summary
Medius, a provider of accounts payable (AP) automation solutions, is to acquire expense management software company Expensya for an undisclosed sum. Founded in Tunis in 2014 by former Microsoft software engineers Karim Jouini and Jihed Othmani, Expensya says its web, mobile and smart payment-card solutions automate spend management for 6,000+ customers, with 700,000 active users in more than 100 countries. Medius says the acquisition of Expensya will complement its strengths in areas such as autonomous AP, payments, procurement, sourcing, contracts and supplier onboarding. For example, Expensya has developed an employee spend management solution in France, which will enable Medius to capitalise on the French e-invoicing mandate. He adds that both companies “share the ambition to transform the spend management category using the power of automation and artificial intelligence (AI)”.
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