Funding

Belgian Startup Xpenditure Raises $5.7M

44 Views

What does Xpenditure do?

Xpenditure, is a expense management platform. It is a revolutionary mobile and web based expense management solution which removes expense report as they are known today. This platform is aimed at SMEs, enterprises and sole traders. The company automates all the steps of the process of expense management, using receipt scanning and integrated approval on expense level. The company makes it possible to manage all daily expenditure without the expensive and long implementation costs. The company promises to do away with the needs to manually file reports for monthly expenses.

How much Xpenditure was funded?

Xpenditure has raised $5.7M in Series A on October 12, 2015 from the investors Jonas Dhaenens, Lorenz Bogaert, Toon Coppens and Bart Swanson.

Previous funding

  • €1.8M in Seed round on April 4, 2011
  • €1M in Angel round on October 7, 2014

What is next for Xpenditure?

Xpenditure’s mission is to want to kill the monthly expense report. The company’s CEO’s Boris Bogaert says that it is completely waste of effort and time and so it must die. Many companies use this process and waste their time and effort. But Xpenditure handles business expenses process from receipts to accounting. The company plans to use the latest funding raised for killing the monlthy expense report.

More about Xpenditure

Xpenditure was founded on April 4, 2011 by Wim Derkidneren and Boris Bogaert. It has its headquarters in Mechelen, Antwerpen. The company is a revolutionary web and mobile based expense management solution which removes expense reports as they are in the current scenario. This is done by automating all the steps of the process of expense management process, using receipt scanning and integrated approval on the expense approval. The company makes it possible for companies to manage their daily expenditures without the length and  expensive implementation costs.