Expensify, Inc. is a software company that develops an

expense management Expense management refers to the systems deployed by a business to process, pay, and audit employee-initiated expenses. These costs include, but are not limited to, expenses incurred for travel and entertainment. Expense management includes the poli ...

system for personal and business use. Expensify also offers a business credit card called the Expensify Card.

History

Expensify was founded in 2008 by current CEO David Barrett. Barrett, a native of

Saginaw, Michigan Saginaw () is a city in Saginaw County, Michigan, United States, and its county seat. It had a population of 44,202 at the 2020 United States census, 2020 census. Located along the Saginaw River, Saginaw is adjacent to Saginaw Charter Township, ...

, and a graduate of the

University of Michigan The University of Michigan (U-M, U of M, or Michigan) is a public university, public research university in Ann Arbor, Michigan, United States. Founded in 1817, it is the oldest institution of higher education in the state. The University of Mi ...

, began programming at the age of six. He was involved in numerous tech companies prior to Expensify, including

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. The company has completed several rounds of

venture capital Venture capital (VC) is a form of private equity financing provided by firms or funds to start-up company, startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in ...

funding, raising $1 million in 2009, $5.7 million in 2010, $3.5 million in 2014, and $17 million in 2015. The company, which expanded its operation in Michigan in 2014, partnered with Gogebic Community College to offer scholarships to students in the area. In July 2015, CEO David Barrett addressed

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on behalf of the app industry, speaking to a House, Health, and Technology subcommittee. In November 2017, the company faced allegations of exposing some customers' personal information to contractors manually entering receipts through Amazon's

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service. Expensify acknowledged that a bug allowed fewer than 200 receipts to be visible to certain company contractors using Mechanical Turk to test a new feature under development. The company halted the test. The company went public on 11 November 2021 under the ticker EXFY. The company's stock has decreased more than 95% since its IPO. In 2023, Expensify funded an update and renovation of Portland's oldest food cart pod, located next to their Portland headquarters. It was renamed the Midtown Beer Garden.

Products

Expensify has developed a reporting expense mobile and web application that is available in the

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and Android marketplaces. Expensify allows users to download expense reports based on user transactions.

Expensify Ventures

Expensify launched a venture capital arm, Expensify Ventures, as part of a $17 million round of funding the company received in early 2015. Expensify Ventures makes strategic investments in early-stage travel, payments, and finance start-ups.

Political activism

On 22 October 2020, in a highly controversial letter, CEO David Barrett emailed all Expensify customers and non-customers on Expensify's marketing list worldwide, urging them to vote for U.S. presidential candidate

Joe Biden Joseph Robinette Biden Jr. (born November 20, 1942) is an American politician who was the 46th president of the United States from 2021 to 2025. A member of the Democratic Party (United States), Democratic Party, he served as the 47th vice p ...

References

External links

* {{Finance links , name = Expensify Inc. , symbol = EXFY , reuters = EXFY.N , bloomberg = EXFY:US , sec_cik = 1476840 , google = EXFY , yahoo = EXFY Software companies of the United States American companies established in 2008 Software companies established in 2008 Companies based in Portland, Oregon Expense management Companies based in Oregon Software companies based in Oregon 2021 initial public offerings Companies listed on the Nasdaq 2008 establishments in California