Medius, the Swedish Innovator, Sets Its Sights on Acquiring Tunisian Startup Expensya to Propel Cutting-Edge Product Offerings
Medius, a Swedish software company, has announced its plans to acquire Expensya, a Tunisian company, in a deal whose financial details remain undisclosed. Expensya, founded by Karim Jouini (CEO) and Jihed Othmani (CTO) in 2014, specializes in providing automated expense management tools for European businesses. Their solutions, integrated with leading Enterprise Resource Planning (ERP) systems such as SAP, Oracle, and Microsoft Dynamics, empower companies to streamline spending, save time, cut costs, and enhance financial control within the CFO office.
Jouini emphasizes that mid-sized companies and CFOs seek a comprehensive platform to effectively manage their expenditures. By combining Expensya’s employee spend management solution and payment cards with Medius’s AP automation platform, the acquisition aims to provide a unified solution for managing indirect spending, supported by AI capabilities that optimize cost-efficiency and streamline processes for finance teams.
According to Kevin Permenter, Research Director for Financial Applications at IDC, this acquisition will enable seamless data flow between travel and expense activities, equipping financial leaders with a holistic understanding of their organization’s travel performance and financial position.
Medius, established in 2001, offers cloud-based spend management technology. Leveraging anomaly detection technology, their software platform automates invoice capture, processing, and payments for mid-market and enterprise AP teams, proactively identifying risks such as potential fraud or duplicate payments.
The acquisition of Expensya strengthens Medius’s position in autonomous AP, payments, procurement, sourcing, contracts, and supplier onboarding. Expensya’s AI-powered expense processing capabilities and mobile-first employee spend management will further enhance Medius’s product offerings.
Both Medius and Expensya possess complementary geographical and product strengths, which will accelerate their expansion and cross-selling opportunities in the highly competitive business applications market. Expensya’s top employee spend management solution in France also enables Medius to leverage the French e-invoicing mandate. The acquisition marks a significant milestone in the MENA region and follows Expensya’s impressive revenue growth, with over 200 employees spread across Tunisia, France, and Germany, and recurring revenue that has more than doubled.
It is worth noting that Medius was acquired by Marlin Equity Partners, a California-based private equity company, in 2017. In March 2022, Marlin sold a portion of Medius to Advent International, another private equity firm.
Source : Techpoint Africa
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