Expensify Exceeds 35,000 Customers

Travel and expense management company Expensify announced today it has surpassed 35,000 global customers this month. Contributing to this milestone, the San Francisco-based company has added about 15,000 new customers in the U.S. this year alone.

This accomplishment places Expensify as the second most widely used expense management company, positioned just behind fellow Finovate alum, Concur, which demoed at FinovateSpring 2012. And while Expensify has more customers than Concur, Concur’s average customer size is larger than Expensify’s — giving Concur more active users than Expensify.

In the blog post announcement, Expensify also reported it has updated its mobile app. The consumer-facing app has moved the Expenses, Reports, and Trips lists behind the hamburger menu. The company notes that this is significant because it exemplifies Concierge’s AI automation capabilities. The Concierge bot, which we featured after its launch in 2016, automates expense management tasks such as credit card matching, reimbursable/non-reimbursable splits, and expense policy analysis. Writing about the app update in the Expensify blog, the company’s CEO David Barrett said, “if everything is configured correctly, you should almost never need to look at them yourself, because Concierge is looking at them for you.”

Expensify launched in 2008 with its flagship receipt-scanning app and a simple motto, “Expense reports that don’t suck!” In the almost-10 years since then, the company has shipped multiple updates, expansions, and new products that “don’t suck.” Most recently, at FinDEVr Silicon Valley 2016, Expensify presented Bedrock, an open sourced relational database management system. Last month, the company announced it partnered with Finovate alum Xero to provide an in-house expense management system for the New Zealand-based company. Expensify last demoed at FinovateSpring 2013, where the company showed off its integrated invoicing technology.

Looking for more developer tools? Check out FinDEVr London taking place 12 & 13 June. Register today to save your seat.

FinDEVr APIntelligence

Our first developers conference in the U.K. is next month. Join us for two days of developer-focused presentations, demonstrations, and conversations at FinDEVr 2017 London, June 12 and 13. Stop by our registration page today and save your spot.

On FinDEVr.com

  • Trulioo and the Regtech Revolution: How Smaller Teams Tackle the Compliance Challenge.
  • Inside BBVA’s Open API Marketplace

Alumni updates

  • NuCypher earns finalist spot in BBVA Open Talent 2017. Join NuCypher at FinDEVr London, Jun 12 & 13.
  • Expensify exceeds 35,000 global customers, adding Xero, HappyFresh, GoCardless, and Adroll as clients.
  • Cisco and IBM team up on security.
  • Glenmede taps IHS Markit for data management.
  • Bank of Sydney replaces its digital banking platform with DigitalAccess from Fiserv.
  • eWise integrates its Aegis data aggregation platform into Backbase’s Open Banking Marketplace.
  • Xero Partners with Expensify for In-House Expense Management.
  • PYMNTS.com features The CardLinx Association’s success.
  • Xero expands online-invoice payment options in Xero for Australia.
  • Worldpay tests payments in virtual reality

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

FinDEVr APIntelligence

FDNY17_EventLogo_v1(wdate)FinDEVr Silicon Valley was a success! Tickets for upcoming FinDEVr London and FinDEVr New York are at their lowest prices now. Register today for London or New York to save your spot!

Dev news

  • Check out LTP’s list of 88 international startup accelerators, incubators & innovation labs nurturing fintech innovators

The latest from FinDEVr Silicon Valley presenters

  • Expensify exclusively endorsed by the world’s leading accounting body.
  • Envestnet | Yodlee integrates with Microsoft Dynamics 365 for Financials.
  • ACI Worldwide named “frontrunner service provider” for EBA instant credit transfer scheme.
  • Xero interviews David Barrett, CEO and founder of Expensify.
  • Hyperwallet begins 24/7 support amidst launch of new Austin contact center.

Alumni updates

  • FinDEVr alum Braintree introduces commerce infrastructure tools.
  • InComm partners with Wakefern Food Corp. to expand gift card programs.
  • OnDeck announces new $200 million revolving credit facility with Credit Suisse.
  • Finicity Scores $42 Million Series B in Round Led by Experian.
  • The Beast Apps introduces comprehensive MiFID II compliance-integration solution, Minotaur.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

FinDEVr APIntelligence

FinDEVr Silicon ValleyFDNY17_EventLogo_v1(wdate) was a success! Tickets for FinDEVr London and FinDEVr New York are at their lowest prices now. Register today for London or New York to save your spot!

On FinDEVr.com:

The latest from FinDEVr Silicon Valley presenters

  • BBVA chooses Amazon Web Services as its preferred cloud infrastructure services provider.
  • Extended partnership makes Yodlee’s data aggregation available via Backbase’s Open Banking Marketplace.
  • Hyperwallet announces support for real-time, push-to-card payments solution,Visa Direct.
  • Full Envestnet | Yodlee Integration Give Advisors Big Picture View of Client Finances.
  • Modo to give the Bank of America access to its COIN Operated Digital Payments Hub.
  • Expensify launches direct integration with Zenefits.

Alumni updates

  • InComm launches new brand of solutions for cash-based consumers, VanillaDirect.
  • Temenos launches Digital Engagement modules to offer real-time customer marketing and engagement.
  • Bluefin Payment Systems launches cloud-based hosting option for its DecryptxPCI-validated P2PE product through Amazon Web Services.
  • Intuit expands partnership with PayPal to provide QuickBooks Online customers with a new way of accepting payments via PayPal.
  • Chain launches open source edition of its distributed ledger, Chain Core Developer Edition.
  • Avoka earns a pair of “XCelent Awards” for service and breadth of functionality from Celent.
  • Trulioo announced that its GlobalGateway platform now reaches 60 countries.
  • On Deck Capital and Kabbage agree to disclose SMB loan pricing

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

FinDEVr APIntelligence

FinDEVrSV16-withdateOur FinDEVr New York developer showcase was a success! FinDEVr Silicon Valley will be held October 18 & 19 in Santa Clara. Register today to save your spot!

Check out our latest FinDEVr Previews featuring:

The latest from FinDEVr New York and upcoming Silicon Valley presenters

  • Visions FCU signs with MX for money management app.
  • OnDeck launches marketing campaign featuring Shark Tank judge Barbara Corcoran.
  • Inside Expensify’s New Concierge Bot.
  • Lleida.net Calls New Patent a Turning Point.

Alumni updates

  • Entersekt listed among 100 most promising African fintech companies of 2016.
  • Aurionpro joins Temenos MarketPlace.
  • Avalara Raises $96 Million in New Funding.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

FinDEVr Preview: Expensify

FinDEVrSV16-LogoBadge copyFinDEVr Previews highlight companies presenting new developer tools, platforms, and integrations at FinDEVr Silicon Valley 2016, October 18 & 19. Early-bird savings end Friday, so pick up your ticket today and save your spot.

CEO David Barrett will discuss how Bedrock became the infrastructure backbone of Expensify’s explosive growth, and how Bedrock can be used to scale your company.

expensify_homepage_september2016

Why it’s a must-see:

Expensify will be introducing its open-source project built for developers to strengthen and enhance your developer’s toolbox for data storage, caching, and job management, and illustrate how it can be used to help scale your company.


Check out more of today’s FinDEVr previews:

FinDEVr APIntelligence

FinDEVr Silicon Valley 2016FinDEVrSV16-V1(wdate) copy is just over a month away! Join us October 18 & 19 in Santa Clara, California, as our developer’s conference returns to the West Coast. Tickets are available now.

The latest from upcoming presenters at FinDEVr Silicon Valley 2016

  • AutoGravity wins Best of Show at FinovateFall 2016. Learn more about their technology at FinDEVr Silicon Valley 2016 in October.
  • Six-time Best of Show winner MX partners with NCR to launch new money management platform with more than three million end users.
  • Ahead of its FinDEVr debut next month, Kyckr has announced completion of phase one of its corporate identity blockchain service.

Alumni updates

  • Giftbit, formerly Kiind, launches its commerce currency platform.
  • Aerospike earns a spot on the Big Data 50.
  • Concur acquires travel-based startup, Hipmunk.
  • Digital onboarding technology from Avoka helps Ebury pick up 50% gains in its customer base.
  • Terry Roche of TABB Group interviews Stephane Dubois, CEO of Xignite.
  • Bluefin Payment Systems unveils its P2PE solution for Merchant Link.
  • BlockCypher announces instantaneous cross-border payments.

Keep up to date with the daily news from the fintech developer community! Follow FinDEVr on Twitter.

FinDEVr APIntelligence

FinDEVr2015LogoV2DateAre you building new financial technology? Be sure to check out coverage from our recent developers conference in San Francisco. We’re taking the fintech developer tool showcase to New York March 29 & 30, 2016. Stay tuned for details.

Developer news:

The latest from FinDEVr San Francisco 2015 presenters:

  • Fidor Bank wins in 2 categories at BAI Retail Delivery’s Global Banking Innovation Awards.
  • WSJ features BehavioSec and Nymi in its piece, The Next Security Frontier: The Human Body.
  • PYMNTS.com takes a look at Currency Cloud and the latest update to its API,Payment Engine Two.
  • Worldpay’s IPO on London Stock Exchange is the U.K.’s largest IPO of the year, at a market cap of £4.8 billion ($7.3 billion).
  • Self Lender names MX as 1 of 3 startups who is “absolutely crushing it” in fintech.
  • Kabbage’s Fresh $135 Million to Help Grow Karrot Consumer Lending Platform.

Alumni updates:

  • PocketSmith launches in Xero Add-On Marketplace.
  • Expensify launches new integration features for Xero.
  • Nymi recruits CEO John Haggard; Karl Martin will now serve as CTO.

Stay up to date on daily developments by following FinDEVr on Twitter.

Expensify Announces $3.5 Million Round Led by Barracuda Networks

Thumbnail image for Thumbnail image for Expensify.jpg

If you thought SAP’s purchase of Concur was the only thing going on in the business travel / expense management innovation space lately – guess again.

Expensify has raised $3.5 million in new capital. The funding was led by Barracuda Networks, and boosts the company’s total equity funding to more than $10 million.

ExpensifyHomepage1
Developers of “expense reports that don’t suck,” Expensify made a splash in the days before the funding news became public with an offer to honor the Concur contracts for customers who switched from the recently-acquired rival. Expensify’s SmartScan technology lets users upload receipts and import expenses to their smartphones. Users can then submit their expense reports online or from their smartphones and get reimbursed directly to their checking accounts.
Expensify has more than 300,000 companies taking advantage of their solution, and more than 1.4 million users. The company processes more than $2 million in expense reports daily.
Expensify announced its integration with the Uber API to launch SmartRides back in August, grew from 24 employees to 45 from January to July, and was profiled recently by Forbes.com in a column on the “new sharing economy.”
Based in San Francisco, California, Expensify was founded in 2008 by CEO David Barrett. See a video of the company’s FinovateSpring 2013 appearance.