Expensify on a high in profitability place
“Profitable and cash flow positive” are among the prevailing themes from Expensify’s year end report for 2018, reports David Penn at Finovate.
94% year-on-year revenue growth for 2018
Expensify’s CEO David Barrett says the receipt tracking and expense management platform’s growth was accelerating, which he reckons would lead to a “predictable trajectory for us to confidently push the bounds of what we can offer our customers”.
The firm highlighted a variety of achievements beyond its profitability and cash flow accomplishments.
Topping the list was the company’s 94% year-on-year revenue growth for 2018, and the introduction of four updated plans – Track, Submit, Collect, and Control – to enable individual entrepreneurs and global enterprise companies alike to incorporate Expensify into their operations.
Other 2018 highlights include an expansion of its partnership programme to include 35% of the top 100 US accounting companies, and 70% of the top UK accounting firms.
Earlier this year, Expensify launched a bank integration programme, ExpensifyApproved! Banks, with Wells Fargo partnering for the pilot.
More recently, Expensify introduced a training and certification programme for accountants and bookkeepers.
2018 also featured integrations with US accounting firm, CLA; private hotel booking platform, Hotel Engine; and a pair of value-added tax (VAT) reclamation solutions, Global VaTax and Taxback International.
