Xpenditure, a mobile and web-based expense management platform announced today that it raised $1.25 million in funding from existing investors.
This funding, added to Xpenditure’s initial round of $1.75 million, brings the Belgium-based company’s funding to $3 million.
It plans to use the funding to expand its operations. In fact, it recently opened an office in New York City and plans to grow its team from 15 to 25 people by the end of 2014.
When users scan their receipts into Xpenditure, the system pulls all relevant data and organizes the information in its web-based portal. Once all of the users’ expenses have been uploaded and organized, they can export expense and reimbursement reports into their ERP software or a CSV file.
Xpenditure was developed in 2011 by CardWise, a company that specializes in prepaid card products.
Check out the demo video of Cardwise’s Xpenditure at FinovateEurope 2014.