Barcelona-based expense management startup Captio joins the largest independent provider of software for the management of travel expenses, Certify, based in the US.
Certify saw in Captio an unbeatable partner to implement its strategy as it enters the European market, and the acquisition is Certify’s first outside of North America and its most significant international venture to date.
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The deal allows Certify to offer its expense management products for large, mid-size and SMB customers throughout Europe and specifically in Spain, Portugal, France and Italy, where Captio has a strong customer base and a growing presence. The combined company now has over 10,000 customers in over 90 countries.
“This is an exciting day for Captio and its customers,” said Captio CEO and Co-Founder Joel Vicient in a statement.
“For six years we’ve worked very hard to create a tool that makes it easier for business travelers to record their expenses and for companies to manage those expenses and simplify reimbursement. We’re proud of the progress we’ve made and the success of our customers. Aligning with Certify will allow us to expand our product further, enhance support to existing customers, and secure new customers while accelerating our plans for growth,” he added.
The combined company will continue working on the current product lines and serving existing customers with an improved service offering taking advantage of the synergies within the group.
Certify’s decision to purchase Captio is the latest move in a concerted effort by the company to grow its presence outside North America.
In 2017, Certify expanded its relationship with UK-based Sage Software to provide enhanced product integrations and services to shared customers. Earlier this year, Certify announced the formation of a new integration with Western Union to provide international business payment capabilities to Certify customers with operations outside the US.
“Captio has captured significant market share in Europe through a combination of great technology, first-class customer service and skilled leadership,” said Bob Neveu, President of Certify.
“They have a strong and growing customer base, and a great reputation. We are excited to bring them into the Certify family, and we look forward to working with Joel and his team to build the Certify brand throughout Europe,” he added.
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Captio Co-Founder and CMO Dan Moser wrote on the company blog that the Spanish startup will continue to do what it had been doing all along, but with even more improvements:
We will continue working on the current product lines and serving our clients, with an improved range of services, and taking advantage of the synergies within the group. What does this mean?
- The same product. Our users will continue to use the same platform, subject to the same conditions, and with the same quality service.
- The same team. Captio will function as an independent company within the group. That is, we will work at the same offices, and with the same people you already know and trust.
- We continue to have the same objective, but with enhanced strength. We are now part of a group made up of specialists in software to manage corporate travel and expenses. We have joined a group comprised exclusively of companies whose product revolves around business travel, and that is already trusted by more than 10,000 clients in 90 countries. This alliance will undoubtedly generate synergies that will enrich our value proposition, thanks to a better tool.
Captio is the leading corporate travel management platform in the Spanish market. Captio integrates the expense management process into one single paperless workflow, without manual tasks or frauds.
Companies of all industries and sizes use Captio to save time and money while staying compliant with their local legal and taxation requirements.