Expensya Partners With Embedded Finance Leader Swan for Continued European Expansion

Expensya, the European specialist in automated expense and spend management, has partnered with Banking-as-a-Service (Baas) platform Swan, to integrate a new payment functionality into its Software-as-a-Service-based (SaaS) solution. Founded in 2014, Expensya started its business by offering finance teams a way to lighten the burden of one of the most tedious accounting tasks: filing expense reports. Throughout the years, Expensya has branched out to encompass the globality of business spend management processes. Expensya automates every step of the expense reporting process for small, medium sized and large companies in all sectors. 

Through embedding finance with Swan, an emerging European leader in embedded finance, Expensya has successfully added payment cards to its product and continues on its promise to provide optimal and end-to-end traceability of all business expenses. Extending its core business to launch corporate payment cards will ensure a smooth user experience with Expensya, now addressing the whole expense and spend management journey

For 2023, the spend management company expects to process more than €3M of spending on cards per month in France, Spain and Germany. Customer satisfaction is key for Expensya, and the company is committed to staying ahead of the curve by innovating finance solutions to build great user experiences. The B2B SaaS-software automates each step of the spend management cycle and expense reporting process, from invoicing to reimbursement. By embedding finance and integrating virtual and physical payment cards to its product, Expensya has accelerated its growth across European markets. In the upcoming year, the spend management expert expects ⅓ of its growth to be generated by cards in France, Spain and Germany.

For Expensya, connecting to Swan was about empowering their customers. Karim Jouini, CEO of Expensya, explains:  “We are pleased to have found a strong partner in Swan, who enabled us to embed finance in our tool. With smart business expense cards and new ways to manage expenses, companies save significant time and energy. They can empower employees to make the payments they need, while having full control over what payments happen, how, when, and by whom.” 

Expensya is part of a wave of tech companies who are embedding finance. Banks used to be the sole providers of standard services like accounts, cards, and payments. But now, thanks to Banking-as-a-Service providers like Swan, companies can easily distribute banking features directly to their own customers. In doing so, they access a burgeoning market: Lightyear Capital estimates that the market for embedded finance will grow to approximately $230 billion worldwide by 2025. Swan’s easy embedded finance platform has broken down the barrier to entry for European companies. 

Nicolas Benady, CEO of SWAN, says of the partnership with Expensya: “I felt synergy from day one between Swan and Expensya. We are both European fintechs with a vision of making money movement as easy as possible. Swan is available across the EEA, and I’ve been eager to see a company take full advantage of this availability. It’s been so exciting to support Expensya with their ambition to serve finance teams all across Europe.”