Medius, a Stockholm, Sweden-based provider of accounts payable (AP) automation solutions, acquired Expensya, a Paris, France- and Tunis, Tunisia-based expense management software company.
The amount of the deal was not disclosed.
With the acquisition, Medius will add Expensya’s AI-enabled, mobile-first, employee spend management capabilities that complement its strengths in areas such as autonomous AP, payments, procurement, sourcing, contracts and supplier onboarding.
Led by Karim Jouini, CEO, Expensya uses artificial intelligence to eliminate manual data entry and automate the processing of expenses. It is a provider of an employee spend management solution that offers full control over spending while improving the bottom line of its customers. With a workforce of 200 individuals representing 20 different nationalities spread across 4 countries, the company has more than 6,000 client companies and over 700,000 users across 100 countries.
Led by CEO Jim Lucier, Medius combines invoice capture, processing and payment tools for businesses to trust their budgets and forecasts. The company has more than 4,000 customers across 102 countries and processes $180 billion in annual spend through its system.
