Expensify, Inc.
Headquarters
Portland, ORFounded
2008CEO / Founder
David BarrettEmployees
51-200Funding
Public — $27.2MStock
NASDAQ: EXFYProducts
1 product listedAvg. AI Score
7.8/10Website
expensify.com/
Profile updated
About Expensify, Inc.
Expensify, Inc. develops cloud-based expense and spend management software that automates receipt scanning, expense reporting, reimbursements, corporate card management, and bill payment for individuals and businesses. The company was founded in 2008 by David Barrett and is headquartered in Portland, Oregon, with a distributed team spanning offices in San Francisco, London, and Melbourne.
Its core products include the Expensify mobile and web app with SmartScan receipt capture, the Expensify Card corporate charge card, and bill pay and invoicing tools; in recent years the company has been building New Expensify, a chat-centered redesign of the platform. Expensify serves small and mid-sized businesses, accountants, and individual users, competing with SAP Concur, Ramp, Brex, and Bill.com. David Barrett continues to serve as chief executive officer.
Before going public, Expensify raised roughly $27 million in venture capital from investors including OpenView, PJC, and Hillsven Capital while remaining profitable and keeping headcount lean. The company completed its initial public offering on November 10, 2021, listing on the Nasdaq under the ticker EXFY and raising about $263 million. Expensify employs on the order of 130 to 150 people.
Specialties
Financials
Dated, source-cited figures. Estimates are marked.
Products by Expensify, Inc.
All products by Expensify, Inc. reviewed by our AI panel of experts.
How Our Review Panel Scores Expensify, Inc.
Six independent reviewer personalities assessed Expensify, Inc.'s product on their own terms. They landed within 0.8 points of each other, an unusually strong consensus.
Averaged across 1 reviewed product in our catalog. Scores are out of 10.
Competitive Landscape
Who Expensify, Inc. competes with, and how they differ.
Corporate-card-led spend platform that bundles software for free and monetizes through card interchange, undercutting Expensify's per-seat SaaS pricing while expanding into travel and bill pay to compete across Expensify's full stack.
1 product reviewed on TopReviewed
Fintech-native corporate card and spend management platform monetized via card interchange and banking-as-a-service rather than subscriptions, historically focused on VC-backed startups versus Expensify's SMB-through-enterprise base.
1 product reviewed on TopReviewedThe incumbent enterprise travel-and-expense system, sold as part of SAP's ERP suite to large enterprises with heavier implementations and higher price points than Expensify's self-serve SMB-to-mid-market product.
Primarily an accounts-payable and invoicing automation platform for SMBs and accounting firms; expense management is a bolt-on feature rather than the core product the way it is for Expensify.
1 product reviewed on TopReviewed
Unified HR/IT/payroll platform where spend and expense management is one module inside a much broader workforce-infrastructure suite, sold to buyers evaluating an all-in-one HRIS rather than a standalone expense tool.
Company Timeline
Key milestones in Expensify, Inc.'s history, with sources.
- Launch
Launches Expensify MCP for AI assistants
A Model Context Protocol integration letting AI assistants including ChatGPT, Claude and Cursor securely query and analyze a company's Expensify data through natural language.
businesswire.com - Launch
Launches Hybrid "Contextual" AI Expense Agent
An evolution of its Concierge support system into a full AI expense agent that works within the context of individual expenses and reports, letting users create, edit and flag expenses conversationally.
investors.expensify.com - Launch
Launches Expensify Chat
A transactional chat feature letting accountants and clients discuss individual expenses, reports and tasks directly inside the app -- an early building block of the "New Expensify" superapp rebuild.
businesswire.com - Milestone
IPO on Nasdaq under ticker EXFY
Priced at $27 per share for a $262.7 million total offering (about $65.5 million in net proceeds to the company); shares opened at $39.75 and closed up 52% on their first day of trading.
sec.gov - Launch
Launches free Expensify Card
The corporate card combined real-time spending controls with automated expense tracking, bringing the company full circle to its original 2008 pitch as "the corporate card for the masses."
finovate.com - Funding
$17.5M funding round from OpenView Venture Partners
The round brought Expensify's total funding to $27.2 million and financed the launch of Expensify Ventures, a strategic investment fund for early-stage fintech startups.
finovate.com - Founded
Founded by David Barrett in San Francisco
David Barrett founded Expensify, debuting the concept at TechCrunch50 as "the corporate card for the masses" before pivoting the product to expense-report management.
we.are.expensify.com
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