Medius to acquire Expensya to expand spend management capabilities

By Delisha Fernandes

Medius, a provider of accounts payable (AP) automation anounces intent to acquire Expensya, an automated spend management provider.

The acquisition of Expensya and its powerful 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.

Medius and Expensya have complementary geographic and product strengths that accelerate the ability to grow and cross-sell in the highly competitive business applications market. Expensya has developed a leading employee spend management solution in France, enabling Medius to capitalise on the French e-invoicing mandate.

Medius’s software platform uses artificial intelligence to link and automate invoice capture, processing and payments for mid-market and enterprise AP teams helping them to automatically identify potential fraud or duplicate payments using anomaly detection technology to spot risks proactively.

Jim Lucier, CEO of Medius, said, “Expensya has developed a leading employee spend management solution in Europe, with innovative features and AI-powered innovation. Its founders, Karim and Jihed, and its leadership team share our ambition to transform the spend management category using the power of automation and AI. Together, we can offer CFOs solutions to help them transform finance while empowering their teams.”

This acquisition, one of the largest in the MENA region, comes after impressive revenue growth for Expensya. In the past two years, the company more than doubled its recurring revenue and grew its headcount to more than 200 employees, mainly based in Tunisia, France, and Germany.

Karim Jouini, CEO of Expensya, said, “Mid-size organisations and their CFOs are looking for one common platform to manage all their spending efficiently. By combining our employee spend management solution and payment cards with Medius’s AP automation platform, we now cover the whole indirect spending of companies. We can apply the power of AI to help finance teams optimise costs and processes across the board.”