What Semine does

Semine is an Oslo-based B2B SaaS company that provides an AI-powered accounts payable automation platform for finance departments across the Nordics and Europe. Founded in 2016 and now operating as part of Rydoo following a July 2025 merger, the company serves more than 10,000 customers across 25 countries and processes over 40 million invoice lines annually. Its core product combines machine learning and pattern recognition with line-level data capture, automated PO matching, accounting entry suggestions, workflow routing, and mobile approval, targeting CFOs, accountants, and shared service centres primarily in real estate, construction, accounting firms, energy, retail, and other verticals with high invoice volumes.

The underlying technology is a self-learning AI engine that extracts 150+ data points per invoice compared to the 7-11 typical of legacy systems, and improves accuracy with each processed invoice. The platform integrates with 15+ major ERP and accounting systems including SAP, Microsoft Dynamics (BC, F&O, AX, NAV), Visma, NetSuite, Unit4, Xledger, and Maconomy, through ready connectors and an open REST API. Reported customer outcomes include automation rates of 70-97%, processing time reductions of up to 6 days, and labor savings measured in multiple person-years. Semine is sold via direct enterprise field sales, a certified partner network that includes BDO and Ignite Procurement, and the Microsoft AppSource marketplace, with pricing structured as SaaS subscriptions likely tied to invoice volume and feature scope.

The business was venture-backed, primarily by Kistefos Venture Capital along with Adolfsen Group and Skagerak Maturo, raising approximately $24M across five disclosed rounds from 2018 through 2022. The company earned Deloitte Top 10 Fastest Growing Technology Company in Norway recognition in both 2022 and 2023 and was named by Gartner as a leading provider of Accounts Payable Invoice Automation Solutions. The July 2025 merger with Belgium-based Rydoo combines Semine's AP automation with Rydoo's expense management platform, positioning the combined entity as a European spend management competitor.

Name

Semine

Legal name

Semine AS

Website

https://semine.com

Company type

Private

Founded year

2016

Operating status

Acquired

Headcount range

51–100 employees

Short description

Semine is an Oslo-based AI-powered accounts payable automation platform serving 10,000+ customers across 25 countries, using self-learning machine learning to capture line-level invoice data, perform PO matching, and automate approval workflows for finance teams in the Nordics and Europe.

Ownership category

akta.pro rank

Product category

Accounts Payable Automation Software

NAICS

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

SIC

Calculating & Accounting Machines (No Electronic Computers) (3578)

akta.pro primary industry

Invoicing, Billing & Accounts Receivable Automation (FSAGAJAC)

akta.pro secondary industry

Trade & Invoice Payments (Cross-Border B2B) (FSAMAIAL)

Keywords

• Accounts payable automation
• Invoice processing software
• AI invoice capture
• ERP integration platform
• Spend management software

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. SaaS Subscription: Software-as-a-service subscription model for accounts payable automation. Customers pay for access to the platform including AI processing, integrations, and support. Pricing likely based on invoice volume or user count given enterprise focus.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels9 records

Core offering

Semine sells a B2B SaaS platform that automates accounts payable processing using AI and machine learning. The platform captures both header and line-level data from invoices and purchase orders, performs automated PO matching, suggests accounting entries, and routes invoices through approval workflows. It integrates with 20+ ERP and accounting systems via pre-built connectors and an open REST API, serving 10,000+ companies across 25 countries with 40M+ invoice lines processed annually.

Product overview

Semine's core offering is the SEMINE Platform, an AI-powered accounts payable automation solution that combines machine learning and pattern recognition to automate invoice processing end-to-end. The platform is a unified system with integrated modules including Data Capture for extracting head and line-level data from invoices, the AI Engine for intelligent processing and learning, PO Matching for automated purchase order verification, Portfolio Management for multi-client workflows, Accounting for automated entry suggestions, Workflows for approval routing, Control and Transparency for audit trails, Insights and Analytics for business intelligence, and a Mobile App for on-the-go approvals. The platform integrates with leading ERP and accounting systems (Microsoft Dynamics, SAP, NetSuite, Visma, Unit4, Xledger, and others) via open APIs and ready connectors. Serving over 10,000 companies across 25 countries, the platform processes 40M+ invoice lines yearly with up to 85%+ accounting tasks automated.

Differentiator

Problem solved

Functional benefit

Brands

• SEMINE: AI-powered accounts payable automation platform that uses machine learning and pattern recognition to process invoices

Products and services

• SEMINE Platform Core AI-powered accounts payable automation platform that processes invoices using machine learning and pattern recognition, supports 10,000+ companies across 25 countries, and automates 40M+ invoice lines yearly.
• Data Capture Accurately captures both head and line-level data from invoices, purchase orders, and other financial documents, extracting vendor details, invoice numbers, dates, line item descriptions, quantities, prices, VAT codes and dimensions.
• AI Engine Core AI technology that achieves full automation on invoices by processing both head and line-level details, using machine learning that learns from historical data and improves over time.
• PO Matching AI-powered matching of invoices against purchase orders before payment submission, enabling automated 3-way matching workflows that reduce manual reconciliation effort.
• Portfolio Management Allows teams to work with multiple datasets and clients in one grid with customizable role-based views, designed for large shared service centres and accounting firms.
• Automated Accounting Automated processing of head and line-level invoice data with suggested accounting entries and classifications based on learned patterns and historical data.
• Workflows Automated approval workflows with intelligent routing based on invoice type, amount, vendor, or other business rules, with mobile approval capabilities.
• Control and Transparency Audit-friendly solution with full audit trail, line-based VAT code prediction, and organizational transparency, reducing risk of error through automated validation.
• Insights and Analytics Analytics providing richer insights captured from invoice data for informed business decisions, with integration to PowerBI and Tableau for comprehensive and visually appealing reports.
• SEMINE Mobile App Mobile application for iOS and Android enabling approval of invoices on the go, allowing finance teams to process approvals anytime, anywhere.
• SEMINE REST API Open REST API enabling partners and customers to build custom integrations connecting SEMINE to ERP and financial systems not covered by standard connectors.

Quantifiable outcome

• 70% of invoices processed automatically with 6-day reduction in processing time
• +8 more outcomes

Named customers12 records

Segments9 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration19 records

AI capability4 records

Feature10 records

Partnerships

Five partnerships are on record, tiered core and minor.

• RydoocoreStrategic or Co-development Partner · 14 July 2025Rydoo, a Belgium-based expense management platform, acquired Semine in July 2025. The merger combines Semine's AI-powered invoice processing capabilities with Rydoo's global expense tracking workflows. The combined company offers finance teams end-to-end spend visibility across Europe, leveraging Semine's Nordic customer base and AI technology with Rydoo's presence in over 25 countries.
• Ignite ProcurementminorStrategic or Co-development Partner · 1 January 2021Strategic partnership announced in 2021 combining Semine's invoice automation and data extraction with Ignite's unique methods for presenting data-driven insights. Enables customers to combine advanced invoice automation with spend analytics capabilities.
• Sopra SteriacoreImplementation/ SI/ Consulting PartnerIT partner with strong SAP expertise that delivered the ERP integration for Norwegian's SEMINE implementation. Provided SAP implementation services enabling seamless connection between SEMINE and Norwegian's financial systems.
• BDOminorImplementation/ SI/ Consulting PartnerAccounting and consulting firm that partnered with Semine for customer implementations. Brede Tvedt and team from BDO participated in customer success stories like Frelsesarmeen deployment.
• ERP Integration PartnerscoreTechnology or IntegrationNetwork of certified integration partners enabling connections with major ERP and accounting platforms. Pre-built connectors for SAP, Microsoft Dynamics (BC, F&O, AX, NAV), Visma (Business, Global,.net), Unit4, NetSuite, Maconomy, Xledger, and others. Open REST API allows partners to build custom integrations.

Scale indicators10 records

Recent moves6 records

Expansion highlights7 records

Broad incumbents

• UiPath: Enterprise RPA and automation platform with an invoice processing product line that competes with Semine's AI-based capture. While broader in scope (RPA, process mining, IDP), UiPath's document understanding capabilities directly overlap Semine's invoice automation value proposition.
• SAP Concur: Global enterprise spend management suite owned by SAP offering invoice management alongside travel and expense. Overlaps Semine in AP automation as part of a much broader portfolio, with distribution leverage from SAP's enterprise ERP installed base.
• Coupa Software: Cloud-based business spend management platform with AP automation, invoicing, and procurement modules. Competes with Semine for enterprise finance spend, particularly in larger organizations where integrated suite purchases outrank best-of-breed AP point solutions.

Direct peers

• Tipalti: End-to-end payables automation platform covering invoice capture, approval, and global supplier payments for mid-market and enterprise. Competitively positioned against Semine on AI-based invoice OCR, ERP integration, and multi-entity finance workflows.
• Yooz: Cloud-native AP automation solution emphasizing AI-based invoice capture, PO matching, and touchless processing. Directly comparable to Semine in target customer segment, AI-first technology approach, and ERP integration strategy.
• Basware: Finland-headquartered AP automation and invoice processing vendor with similar Nordic heritage and enterprise customer focus. Directly competes with Semine in the same European mid-market and large-enterprise segments with comparable AI-powered invoice capture and PO matching capabilities.
• Stampli: AI-powered AP automation vendor focused on collaboration-driven invoice approval and line-level data capture. Direct competitor to Semine in the AI-AP space with similar emphasis on learning from user corrections and ERP integration depth.
• Medius: PE-backed AP automation platform serving European and North American mid-market and enterprise customers. Competes head-to-head with Semine on AI-driven invoice capture, approval workflows, and ERP-integrated AP suites.
• AvidXchange: AP automation platform serving mid-market businesses with invoice processing, bill payment, and purchase order workflows. Comparable in scale and customer base, with similar SaaS subscription model targeting finance teams at multi-entity organizations.
• Kofax (Tungsten Automation): Established AP and invoice automation vendor with intelligent document processing capabilities. Comparable to Semine in line-level invoice capture, AP workflow automation, and ERP integration, though typically serving larger enterprise customers with longer implementation cycles.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCzQwZlCBl2RW-5xTGSXZm8g
• Facebookfacebook.com/SemineAI
• LinkedInlinkedin.com/company/semine
• Instagraminstagram.com/semine_ai

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds5 records

Investors4 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 Semine