Expensify, which provides a cloud-based expense management software platform, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Expensify is a cloud-based expense management software platform that allows organizations to scan and reimburse receipts, including from flights, hotels, coffee shops, office supplies, and ride shares. Since its inception, the company has added over 10 million members to its community, and processed and automated over 1.1 billion expense transactions on its platform. For the quarter ended June 30, 2021, Expensify was used by an average of 639,000 paid members across 53,000 companies and over 200 countries and territories.
The Portland, OR-based company was founded in 2009 and booked $112 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol EXFY. Expensify filed confidentially on April 28, 2021. J.P. Morgan, Citi, and BofA Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
