In 2023, Expensya, a Tunis-based expense management startup co-founded by Karim Jouini and Jihed Othmani, was acquired by Medius, a Swedish procurement software company. The transaction marked a major exit for the North African tech scene, reflecting growing investor interest in the region and the maturation of local innovation ecosystems.
Founded in 2014, Expensya developed software solutions aimed at automating business expense reports, integrating AI and machine learning to manage corporate expenses across web and mobile platforms. The platform gained traction among SMEs and larger companies, especially in Europe, with features such as real-time financial insights, OCR (optical character recognition)-powered expense scanning, and customizable policy enforcement.
The acquisition by Medius was strategic, as it allowed the Swedish firm to expand its product suite and enter new markets through Expensya’s robust client base and technical capabilities. Medius, known for its accounts payable automation solutions, saw the transaction as a key step in providing end-to-end financial process automation for companies of all sizes.
For Jouini and Othmani, the acquisition was a culmination of nearly a decade of development, growth, and strategic expansion. While the financial terms of the deal were not publicly disclosed, it represented one of the most notable exits in the Tunisian startup ecosystem, serving as both an inspiration and a case study for other regional entrepreneurs.
The deal also underscored the increasing importance of digitized back-office operations in a post-pandemic economy where remote workflows and automation have become imperative for business resilience.
Looking beyond the acquisition, Expensya’s co-founders continue to be recognized for their role in boosting regional entrepreneurship and innovation. Their journey has been highlighted as an example of how African tech startups can scale globally and attract attention from major international firms.
The acquisition of Expensya by Medius exemplifies the convergence of fintech innovation and enterprise software, demonstrating how strategic partnerships and acquisitions are shaping the future of business automation worldwide.
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