Medius acquires Expensya to boost FinTech in North Africa
By Delisha Fernandes
Medius, a provider of accounts payable (AP) automation, has completed the acquisition of expense management software company Expensya.
With the acquisition of Expensya, Medius can bank on the Tunisian startup’s AI-enabled, mobile-first employee spend management capabilities that help Medius in areas such as autonomous AP, payments, procurement, sourcing, contracts and supplier onboarding.
The acquisition represents a landmark moment for FinTech advancement in North Africa and boosts the Tunisian FinTech sector.
Jim Lucier, CEO of Medius, said, “Expensysa’s growth has been astronomical over the last two years – and why wouldn’t it be – as the founders, Karim and Jihed, have built powerful AI innovation that will take us to new heights in spend management. This partnership already puts us among the biggest players within the spend management space. We can offer CFOs solutions to help them transform finance while empowering their teams. We are delighted to have the team on board and have already started working with them to amplify the Medius offering.”
The acquisition of Expensya has taken Medius to new geographical frontiers adding product strengths that accelerate the ability to grow and cross-sell in highly competitive business application markets like France, where Expensya has developed as an employee spend management solution.
Karim Jouini, CEO of Expensya, said, “In a sector as quick-footed as expense management, you can either wait for disruption to attack your business or be the disruptor. With this acquisition, Expensya and Medius become disruptive forces ready to revolutionise the industry. 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 spending of companies and can apply the power of AI to help finance teams to optimise cost and processes across the board.”
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