Belgians of Xpenditure raise $ 5.7 million to digitize expense reports

by bold-lichterman

The amount

Xpenditure, a Belgian start-up specializing in expense report management, has justannounce have raised $ 5.7 million from several investors.

The concept

Founded by Wim Derkinderen and Boris Bogaert, the company operates a business expense management service. Users take photos of their receipts (receipts, invoices, etc.) from their smartphone. The application of Xpenditure then analyzes the key data. It is then possible to find the detail of expenses in a Web interface from which the data can be exported to various accounting software.

The company markets its solutions as a service with a price per user, which varies according to the size of the company and the total number of users. On its website, Xpenditure claims customers in 22 countries and has offices in the United States, Brazil, and Germany, in addition to Belgium.

The market

With this new round table, the company announces that it wants to strengthen its workforce and continue its technological investments. The company must however count on the competition of many actors like Expensya in France or even Birdly.

Founders: Wim Derkinderen and Boris Bogaert

Creation: 2011

The head office : Mechelen (Belgium)

Market : expense report management

Funding: $ 5.7 million raised in October 2015

Competitors: Expensya, Birdly …

Photo credit: Xpenditure