What Folio does

Folio Services, Inc. is a US-based financial operations platform purpose-built for the hospitality industry. Founded in 2023 by fintech veterans Kate Adamson (CEO) and Al Hertz (CPO), the company markets a modular procure-to-pay suite that consolidates vendor purchasing, invoice processing, supplier payments, inventory management, and (most recently) corporate expense management into a single workflow for hotel management companies and individual hotel operators. As of mid-2026, Folio powers purchasing at 300+ hotels and processes nearly $1 billion in annual purchasing volume across a marketplace of 5,000+ contracted suppliers.

The product is composed of five integrated modules: Folio Buy (a managed marketplace with PunchOut integrations to suppliers such as US Foods, Cintas, Pepsi, and Gordon Food Service, including AI-powered catalog digitization and GPO rate surfacing); Folio Bills (AI-powered invoice processing using OCR and NLP that automates 3-way matching for up to 50% of accounts-payable workload and saves operators up to 40 hours per week); Folio Pay (virtual card, ACH, and check payment rails issued in partnership with Core Bank, Member FDIC, with cash-back rebates on eligible spend); Folio Inventory (a mobile, offline-capable counting application that reduces count time by 50% and syncs to ERP); and Folio Expense (corporate cards with budget guardrails, real-time spend visibility, and embedded receipt reconciliation). The platform is built on a Ruby on Rails / React / Hotwire / TypeScript / Node.js stack backed by Postgres, Snowflake, and AWS, and integrates with hospitality ERPs.

Folio generates revenue through a combination of SaaS subscription fees across the module suite, transaction fees on processed purchasing volume, and payment rebate economics on Folio Pay card spend. Distribution combines direct enterprise sales to hotel management companies (HHM Hotels, Bridgeton, Innisfree Hotels, Hersha Hospitality Management, Marriott Autograph Collection properties) with a flagship channel partnership as the official technology platform of the AAHOA Marketplace, which provides free access to 20,000+ Asian American hotel owner members. Go-to-market also includes industry events (HITEC 2024 and 2026, where Folio won the E20X Judge's Choice Award), content marketing, and self-serve onboarding. The company has expanded internationally with a UK launch of Folio Inventory in December 2025, and recently added a meez integration for hospitality food-and-beverage recipe and margin management. The company is venture-backed, having closed a $14 million Series A in July 2025 led by Thrive Capital and Construct Capital, with participation from Redseed VC and SciFi VC.

Name

Folio

Legal name

Folio Services, Inc.

Website

https://folio.co

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

Folio is a financial operations platform for the hospitality industry, offering an integrated procure-to-pay suite—purchasing, AI-powered invoice processing, payments, inventory, and expense management—built for hotel management companies and independent hotel owners.

Ownership category

akta.pro rank

Product category

Hospitality Procurement Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Payments, Billing & Invoicing (THALACAJ)

Keywords

• Hospitality procurement software
• Hotel invoice processing
• Hospitality spend management
• Hotel procure-to-pay
• Hospitality financial operations

Headquarters

HQ city

Durham

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Platform/Subscription Fees: SaaS platform fees for access to Folio's procure-to-pay solution including Buy, Bills, Pay, Inventory, and Expense modules.
2. Payment Rebates: Cash back earned on eligible supplier payments made through Folio Pay virtual cards, credited monthly to customer accounts.
3. Transaction/Procurement Fees: Revenue from processing purchasing volume through the platform, with hotels reporting up to 6% savings on purchases.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

Folio sells a hospitality-specific financial operations platform that consolidates procurement, invoice processing, supplier payments, inventory management, and expense management into a single procure-to-pay suite. The platform combines a managed vendor marketplace (Buy), AI-powered bill processing (Bills), virtual card and ACH payments with rebates (Pay), mobile inventory counting (Inventory), and corporate cards with spending guardrails (Expense), targeting hotels and hospitality operators to replace fragmented back-office systems.

Product overview

Folio is a financial operations platform for hospitality offering a modular procure-to-pay solution. The platform comprises five integrated products: Folio Buy (centralized marketplace for vendor purchasing), Folio Bills (AI-powered invoice processing with 3-way matching), Folio Pay (payment processing with virtual cards and rebates), Folio Inventory (mobile inventory counting with ERP sync), and Folio Expense (corporate cards with budget guardrails). Products share a unified data layer connecting suppliers, invoices, budgets, and approvals across the entire purchasing workflow.

Differentiator

Problem solved

Functional benefit

Products and services

• Folio Buy Centralized managed marketplace enabling hotel teams to shop from approved vendors, compare pricing in real time, and apply GPO rates automatically, with AI-powered catalog digitization and PunchOut integrations with major suppliers.
• Folio Bills AI-powered invoice processing that automates up to 50% of accounts payable workload through 3-way matching, digitizes invoices into one centralized feed, and saves up to 40 hours per week on AP.
• Folio Pay Payment processing hub enabling secure supplier payments via virtual card, ACH, or check, with cash-back rebates on eligible payments, real-time payment status visibility, and integration with invoices, orders, and approvals.
• Folio Inventory Inventory counting and valuation system with offline mobile support and multi-user simultaneous counting, syncing valuations to ERP and linking items to purchased products for automatic price updates.
• Folio Expense Corporate card and expense management system enabling issuance of Folio Visa cards with spending guardrails, real-time budget visibility, automatic receipt submission for integrated vendors, and seamless reimbursement workflows.

Quantifiable outcome

• Up to 40 hours saved per week on accounts payable tasks
• +4 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability7 records

Feature6 records

Partnerships

Three partnerships are on record, tiered core and flagship.

• meezcoreTechnology or Integration · 2 June 2026Integration partnership to connect recipe management and procurement workflows for hospitality food and beverage operations. Enables chefs and hotel F&B professionals to plan recipes, track margins, and place orders within Folio platform. Combined offering available to mutual customers starting summer 2026.
• AAHOA (Asian American Hotel Owners Association)flagshipStrategic or Co-development Partner · 8 April 2026Folio named official technology platform of AAHOA Marketplace serving 20,000+ hotel owner members. Partnership brings Folio's procurement technology to AAHOA's extensive membership network. New marketplace launching later in 2026 with improved usability, mobile optimization, cash back rewards, and AI-powered accounting. Free for AAHOA members.
• Core BankcoreTechnology or IntegrationBanking partner providing Folio Visa Corporate Cards and Folio Visa Virtual Cards. Core Bank is Member FDIC and issues cards pursuant to Visa Inc. license. Handles all banking services and fund management for Folio's payment products.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Birch Street Systems: Birch Street is a procure-to-pay platform purpose-built for the hospitality industry, serving hotel management companies with purchasing, invoice, and supplier management — the closest direct competitor to Folio's hospitality P2P offering.
• AvidXchange: AvidXchange provides AP automation and bill payment (including virtual card and ACH) for mid-market businesses, with strong presence in hospitality — directly overlapping Folio Bills and Folio Pay functionality.
• Tipalti: Tipalti offers end-to-end AP automation, supplier payments, and procurement workflows for mid-market and enterprise, competing head-to-head with Folio's procure-to-pay value proposition.
• Ramp: Ramp provides corporate cards, expense management, bill pay, and procurement automation, increasingly moving into vertical use cases — a direct peer to Folio Pay and Folio Expense.
• Procurify: Procurify offers purchase order, AP, and spend management for mid-market organizations, with growing footprint in hospitality — competing with Folio Buy and Folio Bills.
• Airbase: Airbase combines corporate cards, AP automation, and procurement in a unified spend management platform, directly comparable to Folio's integrated procure-to-pay + expense stack.

Broad incumbents

• BILL: BILL is a publicly traded financial operations platform for SMBs covering bill pay, AP/AR, spend, and corporate cards — a broad incumbent offering overlapping capabilities to Folio's mid-market hospitality customers.
• Brex: Brex offers corporate cards, expense management, bill pay, and travel booking aimed at startups through enterprise, overlapping with Folio's spend and payment products.
• Coupa: Coupa is a large, established procurement and spend management platform used by global enterprises including hospitality groups, representing a broad incumbent threat to Folio's procurement suite.
• NetSuite (Oracle): NetSuite provides cloud ERP with native procurement, AP, and inventory modules widely deployed in hospitality groups, representing the broad incumbent alternative Folio must displace or integrate with.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/folioco

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds2 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Folio