Expensify Announces Five New ReceiptBurner Partners

Expensify unveiled a quintet of new partners for its automation-first ReceiptBurner platform this week. The new integrations will make it easy for qualified business expenses such as corporate travel bookings, on-demand parking payments, “and even private jet airfare” to be tracked and recorded into Expensify.

Calling his company’s technology a “full-time travel companion,” David Barrett highlighted the importance of removing the hassle from business travel. “We aim to make business travel smoother every step of the way,” Barnett said in a statement. “That means easing the burden of expense management for everyone involved, from the admin coordinating the travel to the employee out in the field.”

The five new partners are: The Parking Spot, ParkWhiz, Pana, TRAVO, and Jettly. The Parking Spot and ParkWhiz are on-demand parking reservation platforms; The Parking Spot is actually the largest owner/operator of airport parking properties near airports. Pana and TRAVO are trip booking and planning resources. Jettly is a private jet chartering marketplace.

Users of Expensify’s ReceiptBurner no longer have to smartscan or email their receipts to the company for tracking. Instead, when a transaction with one of the company’s growing number of partners occurs, ReceiptBurner automatically creates a receipt and sends it directly to Expensify where it is added to the user’s expense report. “ReceiptBurner eliminates one more step in the expense reporting process,” Expensify Marketing Generalist Gabi Horowitz announced on the company blog a year ago this month when the new solution was introduced. “(ReceiptBurner brings) us even closer to a utopian world in which business travelers can focus on business rather than the logistics of travel.”

Headquartered in San Francisco, Expensify demonstrated its Invoices solution at FinovateSpring 2013. Earlier this month, the company announced a new partnership with Lyft that will make it easier for business travelers using the ride-sharing service to manage their Lyft-related expenses using Expensify. And last month, Expensify reported exceeding the 35,000 customer milestone, reached in part by 15,000 new U.S. customers this year alone. In May, the company teamed up with fellow Finovate and FinDEVr alum, Xero, to power in-house expense management for the New Zealand-based cloud accounting innovator’s 21 offices around the world.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Expensify Brings Auto Expensing to Lyft Business Riders

In the latest piece of not Schadenfreude-related good news for ridesharing innovator Lyft, Expensify has made it easier for Lyft business riders to expense the cost of work-related travel.

“Our goal is to make expense management something that happens behind-the-scenes, so our customers can focus on their business and not on keeping track of receipts,” Expensify CEO and founder David Barrett said. The new automatic expensing feature is available to individual Lyft riders who set up a Lyft Business Profile and choose “Expensify” in settings. Additionally, a Lyft for Business account option enables administrators to set up auto expensing for entire teams or departments. The new integration is a part of Expensify’s ReceiptBurner platform, which the company debuted a year ago this month, and means Lyft riders will no longer have to forward their receipts to Expensify by email for tracking and reimbursement.

“It’s always a pleasure to partner with one of our customers,” Barrett added, “especially in this case – Lyft rides are one of the five most commonly expensed items in Expensify!”

Founded in 2012, Lyft is available in 300 cities in the U.S. and supplies more than 18 million rides a month. With a valuation of $7.5 billion and $2.6 billion in funding, the ride sharing startup is often compared with rival, Uber (570 cities worldwide, valuation of more than $50 billion, $11.5 billion in total funding), which was founded three years earlier. Lyft is headquartered in San Francisco, California, and reported revenues of more than $700 million in 2016.

Founded in 2008 and also based in San Francisco, Expensify demonstrated its invoicing technology at FinovateSpring 2013. The company is also an alum of our developer’s conference in Silicon Valley last fall, at which Barrett presented “Bedrock – Expensify’s Open-Sourced Infrastructure Secret Weapon.” Last month, Expensify announced exceeding the 35,000 customer mark and in May, the company partnered with fellow Finovate/FinDEVr alum Xero, which will use Expensify’s expense management technology in-house at all 21 of its offices around the world.

Expensify has raised more than $27 million in total funding, including a $17 million Series C round in 2015. The company counts OpenView, Barracuda Networks, and Redpoint among its investors.

Finovate Alumni News

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Expensify Exceeds 35,000 Customers

Travel and expense management company Expensify announced today it has surpassed 35,000 global customers this month. Contributing to this milestone, the San Francisco-based company has added about 15,000 new customers in the U.S. this year alone.

This accomplishment places Expensify as the second most widely used expense management company, positioned just behind fellow Finovate alum, Concur, which demoed at FinovateSpring 2012. And while Expensify has more customers than Concur, Concur’s average customer size is larger than Expensify’s — giving Concur more active users than Expensify.

In the blog post announcement, Expensify also reported it has updated its mobile app. The consumer-facing app has moved the Expenses, Reports, and Trips lists behind the hamburger menu. The company notes that this is significant because it exemplifies Concierge’s AI automation capabilities. The Concierge bot, which we featured after its launch in 2016, automates expense management tasks such as credit card matching, reimbursable/non-reimbursable splits, and expense policy analysis. Writing about the app update in the Expensify blog, the company’s CEO David Barrett said, “if everything is configured correctly, you should almost never need to look at them yourself, because Concierge is looking at them for you.”

Expensify launched in 2008 with its flagship receipt-scanning app and a simple motto, “Expense reports that don’t suck!” In the almost-10 years since then, the company has shipped multiple updates, expansions, and new products that “don’t suck.” Most recently, at FinDEVr Silicon Valley 2016, Expensify presented Bedrock, an open sourced relational database management system. Last month, the company announced it partnered with Finovate alum Xero to provide an in-house expense management system for the New Zealand-based company. Expensify last demoed at FinovateSpring 2013, where the company showed off its integrated invoicing technology.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinDEVr APIntelligence

Our first developers conference in the U.K. is next month. Join us for two days of developer-focused presentations, demonstrations, and conversations at FinDEVr 2017 London, June 12 and 13. Stop by our registration page today and save your spot.

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Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.