Expensify, Inc. is a software company that develops an expense management system for personal and business use. Expensify also offers a business credit card called the Expensify Card.[3]
History
Expensify was founded in 2008 by current CEO David Barrett.[4] Barrett, a native of Saginaw, Michigan, and a graduate of the University of Michigan, began programming at the age of six.[4] He was involved in numerous tech companies prior to Expensify, including Red Swoosh.[5]
The company has completed several rounds of venture capital funding, raising $1 million in 2009,[6] $5.7 million in 2010,[6] $3.5 million in 2014,[7] and $17 million in 2015.[8]
The company, which expanded its operation in Michigan in 2014, partnered with Gogebic Community College to offer scholarships to students in the area.[4] In July 2015, CEO David Barrett addressed the United States Congress on behalf of the app industry, speaking to a House, Health, and Technology subcommittee.[9]
In November 2017, the company faced allegations of exposing some customers' personal information to contractors manually entering receipts through Amazon's Mechanical Turk service.[10] 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.[11]
The company went public on 11 November 2021 under the ticker EXFY.[12] The company's stock has decreased more than 95% since its IPO. [13]
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.[14]
Products
Expensify has developed a reporting expense mobile and web application that is available in the Apple and Android marketplaces.[5]
Expensify allows users to download expense reports based on user transactions.[15]
In June 2025, it was announced they would be expanding their corporate card product to Canada. [16]
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.[8]
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.[17][18]
External links
References
- Expensify Investor FAQ^
- Expensify Inc. 2022 Annual Report Form (10-K) EDGAR, U.S. Securities and Exchange Commission, March 8, 2022^
- Ranica Arrowsmith. Expensify debuts corporate card with perks from Stripe, Bill.com and more accountingtoday.com, Accounting Today, retrieved 7 October 2019^
- Ryan Jarvi. Financial tech company looks to increase local presence Your Daily Globe, 20 August 2014, retrieved 17 August 2015^
- Serena Saitto. Expense-Reporting Startup Finds Big Growth by Focusing on Small Companies Bloomberg Business, 11 December 2014, retrieved 17 August 2015^
- Matthew Lynley. Expensify raises $5.7M for more expense reports "that don't suck" Reuters, 9 September 2010^
- Ryan Lawler. With $3.5 Million In New Funding, Expensify Targets Concur Customers Tech Crunch, 30 September 2014, retrieved 17 August 2015^
- Yuliya Chernova. Expensify Launches Venture Arm With Part of $17M New Round The Wall Street Journal, July 27, 2015, retrieved August 17, 2015^
- Nathan Rubbelke. Let's not screw it up app industry tells Congress Washington Examiner, 23 July 2015, retrieved 11 April 2025^
- Who is reading your Expensify receipts? The Big Tech Question, 23 November 2017, retrieved 28 November 2017^
- Thuy Ong. Expensify says receipts found on Amazon Turk were from testing a new feature The Verge, 28 November 2017, retrieved 21 January 2019^
- Mike Rogoway. Expensify's $263 million IPO breaks Oregon tech's 17-year drought The Oregonian, 10 November 2021^
- Expense management platform Expensify valued at $3.87 billion in strong market debut (Oct. 10) Reuters, 11 November 2021^
- Brooke Jackson-Glidden. The Southwest Fifth Avenue Food Cart Pod Will Get a Major Glow Up Eater Portland, 2023-05-18, retrieved 2023-05-18^
- Kayla Matthews. 5 resources Gen Y uses to win at business The Business Journals, 22 December 2014, retrieved 17 August 2015^
- Knowlton Thomas. Expensify Unveils 'Sweeping Expansion' That Includes Card Launch in Canada Fintech.ca, 2025-06-30, retrieved 2025-07-17^
- Expensify CEO Emails 10 Million Customers Urging Them to Vote for Biden Bloomberg.com, 2020-10-23, retrieved 2023-11-07^
- Chip Cutter. Expensify CEO Urges Customers to Vote Against Trump Wall Street Journal, 2020-10-23, retrieved 2023-11-07^