MobileXpense strengthens international footprint by acquiring the Swedish market leader in travel expense management
First strategic acquisition after 20 million euro investment
(Brussels, March 14th, 2019) - MobileXpense, the Brussels-based company that provides worldwide mobile solutions for travel expense management, is making its first strategic acquisition in taking over eBuilder Travel, the travel and expense management market leader in Sweden. This further strengthens MobileXpense’s position as a key international software supplier. In 2017, Fortino Capital Partners invested 20 million euros in the company's commercial growth and the development of new mobile services.
Pieter Geeraerts, CEO, clarifies MobileXpense's ambition: "MobileXpense has shown substantial and consistent growth in recent years. This acquisition allows us to further heighten our position in the international market where we have become a leading European player able to challenge the world’s largest software suppliers. We want to maintain this pioneering position and develop solutions that are able to follow the most complex processes of large multinational corporate and governmental organizations."
MobileXpense was founded in 2000 as one of the first European Software-as-a-Service (Saas) companies. It specializes in software applications for travel and expense management and offers complete automation of the entire process from planning and booking, to reimbursement and accounting. MobileXpense has become a front-row service provider for multinationals in Europe, the UK, the US, Latin America and China.
This success is due to the solution’s user-friendliness, flexible integration with existing Enterprise Resource Planning (ERP) and payroll solutions, and particularly its compliance with local tax regulations and procedures in more than 70 countries. MobileXpense currently has 1.2 million users worldwide, spread over 100+ countries and almost 300 corporate customers including blue-chip companies such as Canon, UCB, DB Schenker or Panalpina but also the Belgian National Bank and the Dutch government.
In 2018, Pieter Geeraerts joined MobileXpense as its new CEO, bringing along his strong track record in growing software companies. Today, MobileXpense reaches another important milestone with the acquisition of eBuilder Travel, a strong player in travel and expense management in the Nordics. With this acquisition, MobileXpense obtains a solid set of large customers in Sweden and Finland backed by a strong team of local experts and aims to further expand its activities in the Nordics and strengthen its international offering.
MobileXpense is a leading provider of global Travel Expense Management solutions for large multinationals and governmental organizations. Its uniquely flexible SaaS solution simplifies a complex and often time-consuming problem for business travelers, HR departments and accounting departments around the world. The solution offers multinational organizations full regulatory compliance with country-specific taxation and legal allowance regulations as well as the flexibility to integrate company regulations and policies. MobileXpense helps more than 300 customers with 1.2 million end-users in over 100 countries drive down their employees’ business travels costs. Customers include Canon, UCB, Panalpina, the Dutch government and many more.
To learn more, visit www.mobilexpense.com and follow @mobilexpense
About eBuilder Travel
eBuilder Travel focuses on the end-to-end travel and expense management process. Numerous large public and private sector organizations rely on eBuilder Travel solutions. eBuilder group is a leading provider of cloud solutions. The company was founded in 2007, and are currently located in Stockholm, Sweden (HQ) and Sri Lanka. eBuilder solutions are used in more than 80 countries worldwide. For more information, visit www.ebuildertravel.se
About Fortino Capital Partners
Fortino Capital Partners is an investment company that was founded in 2013 and is led by Duco Sickinghe, Renaat Berckmoes and Matthias Vandepitte. Fortino Capital invests in remarkable companies of today and tomorrow and actively helps companies capture opportunities. They accelerate businesses and turn ambition into growth. The company manages a venture capital fund of EUR 80 million and a digital growth fund of EUR 200 million which focuses on software and digital transformation. Fortino Capital's investment portfolio includes Teamleader, Bloomon, Aproplan and MobileXpense, among others. For more information, visit www.fortino.be.