Expensify
Expensify (Nasdaq: EXFY) is a cloud-based expense management SaaS platform serving 632,000 paid members and 15 million users globally. It provides OCR receipt scanning, AI-powered categorization, corporate cards, travel, invoicing, and payroll primarily to SMBs, solopreneurs, and accountants.
- Company typePublic
- Founded2008
- HeadquartersSan Francisco, United States
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Expensify does
Expensify is a cloud-based expense management SaaS platform founded in 2008 and headquartered in San Francisco, publicly traded on Nasdaq under ticker EXFY since November 2021. The platform provides one-click receipt scanning via proprietary SmartScan OCR, AI-powered expense categorization through its Concierge AI assistant, corporate card management through the Expensify Visa Commercial Card, and a unified module set covering expense reporting, travel booking, invoicing, bill pay, and payroll integration. Expensify serves individuals, freelancers, SMBs (approximately 60% of revenue), and select enterprise customers across 180+ countries, with deep two-way integrations into accounting and ERP platforms (Xero, NetSuite, QuickBooks, Campfire, Rillet) and travel/banking partners (American Airlines, Uber for Business, ANZ Bank, Kiwibank, Playroll, VAT IT).
The technology stack is mobile-first and integrates computer vision for receipt capture, NLP for the Concierge assistant, and a new Model Context Protocol (MCP) interface launched June 2026 that exposes expense data to AI assistants such as ChatGPT and Claude via OAuth 2.1. The platform is undergoing a migration to the New Expensify architecture (approximately 60% complete as of Q1 2026), with free-tier access for individuals and per-seat paid plans ranging from $5 to $36 per member per month. The company maintains offices in San Francisco, Portland, Ironwood (Michigan), London, and Melbourne, alongside distributed remote hubs in Denver, NYC, Berlin, and Amsterdam.
Revenue is generated primarily through subscription seat-based plans, with growing contribution from Expensify Card interchange (24% YoY growth to $21.3M in FY2025) and emerging travel transaction fees. FY2025 revenue totaled $142.1M with Q1 2026 revenue at $34.0M (down 6% YoY) and paid members of 632,000 (down 4% YoY). The company operates a product-led, bottom-up distribution model with over 90% of leads generated organically, supported by the ExpensifyApproved! accountant partner program. Following the IPO, Expensify has pursued both offensive moves (MCP launch, travel expansion, banking partnerships) and defensive actions (a modified Dutch auction tender offer, a proposed reverse stock split to maintain Nasdaq compliance, and leadership restructuring after the December 2025 COO resignation) amid deteriorating top-line trends.
Expensify firmographics
Firmographics- Name
- Expensify
- Legal name
- Expensify, Inc.
- Website
- https://we.are.expensify.com
- Company type
- Public
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Expensify (Nasdaq: EXFY) is a cloud-based expense management SaaS platform serving 632,000 paid members and 15 million users globally. It provides OCR receipt scanning, AI-powered categorization, corporate cards, travel, invoicing, and payroll primarily to SMBs, solopreneurs, and accountants.
- Ownership category
- akta.pro rank
Expensify industry classification
Industry- Product category
- Expense Management Software
- NAICS
- Accounting, Tax Preparation, Bookkeeping, and Payroll Services (5412), Payroll Services (541214)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- Expense Management & Reimbursements Administration (BPACAIAH)
- akta.pro secondary industries
- Employee Expense Capture & Reimbursement (T&E) (THACADAA), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Bill Pay, Invoicing & Payables Platforms (BPAMAFAF), Embedded Payroll, Earned Wage Access & Benefits Finance (FSAGALAI)
Keywords
Where Expensify is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices9 records
Markets served
Expensify business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Subscription / Seat-based Plans: Tiered subscription plans ($5 to $36+ per member per month) generating recurring revenue from SMB and enterprise customers. Primary revenue driver historically. Revenue declined 6% YoY to $34M in Q1 2026.
- Expensify Card Interchange: Interchange revenue from the Expensify Visa Commercial Card. Grew 10% YoY to $5.5M in Q1 2026, and 24% for full-year 2025 to $21.3M. Rising contribution to total revenue mix as card adoption grows.
- Travel Services: Revenue from travel bookings through Expensify Travel. Exceptional growth with bookings increasing 434% from Q4 2025 to Q1 2026, though travel is still emerging as a revenue contributor.
- Invoicing and Bill Pay: Electronic invoicing and bill payment services, expanding the platform beyond expense management into broader financial operations for small businesses.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Collect (Free / $5 per member/month) |
| Subscription | Annual | Standard Plans ($5–$9 per member/month) |
| Subscription | Monthly | Premium / Enterprise ($36 per member/month) |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels10 records
Expensify product offering
Product offeringCore offering
Expensify provides a cloud-based expense management SaaS platform that automates receipt capture via SmartScan OCR, expense report creation, approval workflows, reimbursement, and reconciliation with accounting software. The platform extends to integrated corporate cards (Expensify Card), travel booking, invoicing, bill pay, and payroll. It serves individuals, freelancers, small and mid-sized businesses, and enterprise clients with a product-led, self-serve adoption model.
Product overview
Expensify is a cloud-based expense management platform offering a unified product with integrated modules for expense tracking, corporate cards, travel booking, invoicing, bill pay, and payroll. The core Expensify platform provides OCR receipt scanning (SmartScan), automated expense reporting with AI Concierge, and corporate card management (Expensify Card) with up to 2% cash back. The platform extends through add-on modules including Expensify Travel for corporate booking, Expensify Invoicing and Bill Pay for accounts payable/receivable, Expensify Payroll for global payroll automation, Expensify MCP for AI assistant integration, ExpensifyApproved! for accountant partners, and the CPA Card for accounting firms. The platform serves individual freelancers, SMBs, and enterprise clients, connecting to accounting software through integrations with Xero, NetSuite, and ERP systems.
Differentiator
Problem solved
Functional benefit
Products and services
- Expensify Expense Management Cloud-based expense management platform offering one-click receipt tracking, automated expense reporting, SmartScan OCR technology, corporate card management, and real-time financial visibility. Serves individuals, freelancers, SMBs, and enterprise clients with two-way integrations with accounting software.
- Expensify Card
Quantifiable outcome
- ~94% customer retention for those using 3+ integrations
- +6 more outcomes
Companies that use Expensify
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
Expensify technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
AI capability11 records
Feature8 records
Expensify partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- VAT ITcoreIntegration partnership enabling Expensify customers to automatically sync eligible expense data with VAT IT's platform to streamline VAT recovery processes across Europe and Canada. Expands Expensify's global compliance and e-invoicing capabilities, with future opportunities for embedded and white-label VAT reclaim solutions within existing workflows.
- PlayrollcoreStrategic partnership integrating expense management with global payroll infrastructure across 180+ countries. Approved expenses flow directly into Playroll's payroll engine with embedded compliance, local tax classification, currency conversion, and audit-ready reporting. Companies positioned as preferred partners for EMEA and UK markets with mutual referral and co-marketing initiatives.
- XerocoreExpanded partnership ecosystem integration through Xero's accounting platform, enabling seamless data flow between expense management and cloud accounting for small business customers.
- Institute of Commercial Payments (IOCP)minorPartnership for the 2026-2027 cycle to expand Expensify's modern spend management offerings and Bring Your Own Card (BYOC) program to IOCP's community of 19,000+ commercial card and payment professionals. CEO David Barrett positioned the BYOC program as enabling companies to connect existing bank-issued corporate cards to Expensify's platform for real-time visibility and automated expense management.
- XerocoreEnhanced partnership offering joint discounts to small businesses — six months of Xero's Business Edition free and 50% off Expensify's annual plan for six months for new customers. Collaboration includes coordinated marketing across onboarding, web, newsletter, and in-app channels, targeting tourism sector and reducing friction between expense management and accounting workflows.
- Uber for BusinesscoreMulti-year integration partnership to automate travel and meal receipts for corporate customers. Expensify Travel bookings and Uber for Business receipts integrate to streamline expense reconciliation, eliminating manual uploads and reducing administrative work for business travelers.
- Brooklyn NetsminorOfficial Travel and Expense Management Partner of the Brooklyn Nets announced November 2025, integrating Expensify's platform with the NBA organization's travel and expense workflows.
Scale indicators16 records
Recent moves10 records
Expansion highlights7 records
Expensify competitors and assessment
Company assessmentBroad incumbents
- SAP Concur: SAP Concur is the largest enterprise expense management platform globally, competing head-to-head with Expensify in T&E and expense reporting. Expensify differentiates on SMB focus and consumerized UX (9.6/10 ease-of-use vs SAP Concur's 8.5/10 on G2), while Concur dominates large enterprises.
- BILL: BILL (formerly Bill.com) is a leading AP/AR and spend automation platform serving SMBs and mid-market, with overlapping capabilities in invoicing, bill pay, and expense management. Competes with Expensify's invoicing and bill pay modules and serves a similar SMB accounting buyer.
Direct peers
- Brex: Brex is a corporate card and spend management platform serving SMBs and startups, directly competing with Expensify Card and expense workflows. Both target the same self-serve, product-led SMB buyer with integrated card-plus-software offerings.
- Ramp: Ramp provides corporate cards and automated expense/spend management aimed at SMBs and mid-market. Ramp's growth and AI-driven automation compete directly with Expensify's card and AI Concierge roadmap in the same target segment.
- Emburse: Emburse offers expense management, corporate cards, and AP automation for mid-market and enterprise. Competes with Expensify across expense capture, approval workflows, and corporate card integrations, with stronger presence in larger customers.
- Rydoo: Rydoo is a global expense and travel management platform with strong EMEA presence, competing with Expensify on multi-country T&E automation. Comparable in targeting mid-market and international customers with mobile-first expense workflows.
- Zoho Expense: Zoho Expense is part of the Zoho suite and offers receipt scanning, policy compliance, and travel booking for SMBs and mid-market. Competes with Expensify on automation, OCR, and pricing, especially for customers already using Zoho Books or CRM.
- Pleo: Pleo provides corporate cards and expense management primarily across Europe, targeting SMBs with a self-serve product-led model similar to Expensify. Overlap in the European market on integrated cards and automated expense workflows.
- Airbase: Airbase offers corporate cards, AP automation, and expense management aimed at mid-market companies. Comparable in the unified spend management category, competing with Expensify's invoicing, bill pay, and card products.
Others
- Xero: Xero is a cloud accounting platform partner with deep Expensify integration and joint go-to-market, but not a direct competitor. Relevant as an ecosystem ally that drives SMB distribution and adjacent accounting workflows.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Expensify social profiles
Digital presenceExpensify financial estimates
Financial estimateRevenue estimate
Valuation estimate
Expensify leadership team
Management profileNumber of profiles
Profiles7 records
Expensify funding detail
Funding detailFunding overview
Funding rounds9 records
Investors14 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Expensify M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Expensify
What does Expensify do?
Expensify provides a cloud-based expense management SaaS platform that automates receipt capture via SmartScan OCR, expense report creation, approval workflows, reimbursement, and reconciliation with accounting software. The platform extends to integrated corporate cards (Expensify Card), travel booking, invoicing, bill pay, and payroll. It serves individuals, freelancers, small and mid-sized businesses, and enterprise clients with a product-led, self-serve adoption model.
Is Expensify a public or private company?
Expensify is a public company. It is classified as public and is currently operating.
When was Expensify founded?
Expensify was founded in 2008. It employs 101 to 250 people.
Where is Expensify based?
Expensify is headquartered in San Francisco, United States, in the North America region.
How does Expensify make money?
Four revenue lines are on record. Subscription / Seat-based Plans are the primary driver. The others are expensify Card Interchange, travel Services and invoicing and Bill Pay.
Who are Expensify's main competitors?
Broad incumbents on record are SAP Concur and BILL. Direct peers are Brex, Ramp, Emburse, Rydoo, Zoho Expense, Pleo and Airbase. Xero is listed as an others.
Does Expensify have an API?
Yes. Expensify MCP (Model Context Protocol) enables AI assistants such as ChatGPT, Claude, Cursor, and other MCP-compatible clients to securely access and analyze expense data through natural language queries. The integration uses OAuth 2.1 for secure connections and allows users to perform queries like tracking travel expenses, finding receipts, and approving expense reports without CSV exports or manual integrations. The MCP integration is available for free to any validated Expensify account holder. Developer documentation is at docs.expensify.com.
What industry is Expensify in?
Expensify's product category is Expense Management Software. Its primary akta.pro industry code is BPACAIAH, Expense Management & Reimbursements Administration, with a secondary code of THACADAA, Employee Expense Capture & Reimbursement (T&E). Its NAICS code is 5412 and its SIC code is 7372.