Brussels-based MobileXpense, a provider of expense management solutions, has secured 20 million euros in funding. The investor was Fortino Capital.
(Zaventem, 21 December 2017) – Fortino invests the first 20 million euros from its new Digital Growth Fund in fast growing cloud software pioneer MobileXpense. The Brussels-based company is specialised in travel and expense management and already completed more than 1.300 implementations worldwide.
As a majority shareholder, Fortino Capital will assist the MobileXpense management to further expand internationally and grow in the medium to large corporate segment by boosting sales and marketing efforts and by enriching the product portfolio.
MobileXpense was founded in 2000 by Xavier Deleval and Patrick Billiet who had previously worked together at Shell. They have a strong international customer base in various sectors, including many global deployments for Fortune 500 companies and world industry leaders (such as 2 of the world leading beverage companies, Engie, UCB, Porsche), as well a strong presence in the Dutch public sector.
Xavier Deleval, CEO MobileXpense : “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.”
MobileXpense’s software distinguishes itself through its cost effectiveness, flexibility and ease of implementation. Its management tools integrate with all major ERP systems, travel booking tools, credit card issuers and meets the requirements of the most sophisticated multinationals.
Matthias Vandepitte, Partner at Fortino : “This first investment exactly hits the sweet spot of our new 200 million euros Digital Growth Fund. MobileXpense helps companies manage their travel and expense costs in a fully automated way, allowing them to gain efficiency and reduce expense spending through digitization. We look forward to grow this company to the next level.”
With its first fund, Fortino has a track record in scaling up B2B software-as-a-service companies. Since the launch of the investment fund in 2013, Fortino has brought investment, expertise and their extensive network to the table to guide companies such as Teamleader in becoming successful and flourishing enterprises. With this second fund, the investment company now continues to target growth through digitization in Benelux companies.
MobileXpense was founded in 2000, and has successfully completed more than 1.300 implementations for 200 customers in more than 80 countries. MXP serves mid-sized businesses with the same attention as global corporations with thousands of employees, on every continent.
About Fortino Capital Partners
Founded in 2013, the investment company Fortino is led by Duco Sickinghe, Renaat Berckmoes and Matthias Vandepitte. Fortino Capital invests in small and medium-sized companies with growth potential and believes in the potential of visionary entrepreneurs with a focus on technology, E-commerce and digital transformation. Fortino Capital brings capital, expertise and experience in innovation, strategy, and growth. Fortino Capital’s investment portfolio includes among others Bloomon, Teamleader, Aproplan, Slick Software Solutions, inSided and TrendMiner. For more information: www.fortino.be