Travel and expense management application MobileXpense has received a €20m funding round from Fortino, which marks the first investment of its newest fund.
The firm used its €200m Digital Growth Fund to make the investment and will see it become the majority shareholder in MobileXpense.
Brussels-based MobileXpense is an end-to-end global travel and expense management solution that helps from the planning and authorisation of trips through to the analysis of all expenses. The solution is implemented by over 1,300 organisations across the globe.
Founded on 2000, the company is easy to implement, and its management tools can integrate with all major ERP systems, travel booking tools, credit card issuers and meets requirements of sophisticated multinationals.
Through the new funding line, MobileXpense will further its international expansion and grow its company by bolstering sales and marketing efforts. Some of the capital will also be used to increase the product’s offering portfolio.
MobileXpense CEO Xavier Deleval said, “We have developed a strong foundation in global expense management software solutions, following years of hard work out of the spotlights. Fortino Capital will guide us in our next steps to strengthen our commercial organisation and accelerate our product development.”
Earlier in the year, digital wallet platform Curve partnered with Xero in a bid to further automate the expense solution. The partnership will enable Curve to exclude the need of entering expenses manually.
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