Expensify, Inc. (EXFY)

Expensify is a cloud-based expense management software platform that helps businesses of all sizes manage money. Founded in 2008, it has added over 15 million members and processed more than 1.8 billion expense transactions as of December 31, 2025. In the quarter ended December 31, 2025, an average of 650,000 paid members across an average of 39,700 companies in over 200 countries and territories used the platform. Its core offering automates the expense journey from receipt capture through categorization, approval, reconciliation and next-day reimbursement, and it positions itself in what it calls "preaccounting," the processes through which non-accountants gather, code and normalize financial data.

The platform is a single product with one price that unlocks all features. Capture tools include the patented SmartScan receipt technology, credit card matching, and mobile apps for Android and iOS that handle receipts, mileage and per diems. Approval features include multi-level workflows, intelligent auditing and integrations with accounting, HR and travel systems. Payment features include next-day ACH direct deposit and global reimbursement in 5 currencies across 200 countries and territories. Concierge, an AI-powered support engine, helps with setup. The platform has expanded to corporate cards (the Visa-network Expensify Card, with virtual cards, Smart Limits, real-time reconciliation and cashback), invoicing, bill pay, payment collection and travel booking. Plans include free Track and Submit plans for individuals, with an optional paid upgrade for unlimited SmartScan, and paid Collect and Control plans for businesses. Control is the most popular. Paid plans are billed monthly per active member, either pay-per-use or on an annual plan with a minimum seat commitment, with extra discounts for Expensify Card spend.

Expensify focuses on small and medium-sized businesses, which it says often still rely on manual back-office processes, but it also serves freelancers and enterprises with tens of thousands of employees. It targets individual employees as end users. Its business model is bottom-up and viral: employees sign up free, submit expenses to managers, and spread adoption within the company until a decision maker buys a self-service subscription payable by credit card. The company relies on word-of-mouth, large-scale brand advertising to build market consensus, and partnerships with accounting software providers such as Intuit, NetSuite, Xero and Sage Intacct. It also runs the ExpensifyApproved! program, which trains accountants. Its growth strategies include new features, more Expensify Card adoption, more integrations and partnerships, and international expansion.

Expensify offers over 50 pre-built integrations with accounting, HR and travel systems, banks and credit cards, including QuickBooks, Xero, Oracle NetSuite, Sage Intacct, FinancialForce, Uber and Lyft. It also provides a self-service API. The company describes a flat, generalist organizational structure built around common values and long-term employee retention. The text does not identify its headquarters, manufacturing, suppliers or named competitors.