Latest news with #corporatecards
National Post
25-06-2025
- Business
- National Post
Expensify Expands Global Support for Company Cards, Languages, Billing, and Reimbursements
Article content The financial superapp now supports corporate cards from thousands more banks worldwide, alongside a handful of other major international upgrades Article content PORTLAND, Ore. — Expensify, Inc. (Nasdaq: EXFY), the financial management superapp for expenses, travel, and corporate cards, today announced a sweeping expansion of international support across its platform. The launch includes support for corporate card import from 10,000+ more banks worldwide, multilingual capabilities, Euro-based billing, international reimbursements in New Expensify, and beta access to the Expensify Card across the UK, EU, and soon Canada. Article content These updates mark a milestone in Expensify's global strategy, enabling businesses across the world to manage expenses and cards faster and more seamlessly than ever before—all within a single platform. Article content 'Now, companies everywhere can handle expenses, cards, reimbursements, and more — entirely within Expensify,' said David Barrett, founder and CEO of Expensify. Article content Highlights of today's international expansion: Article content 'This is a big day. It's no exaggeration to say everything we've done for years has been in preparation for this — bringing you the fastest way to do your expenses, anywhere in the world.' Barrett added. Article content Members can opt into relevant betas by contacting their account manager or reaching out to concierge@ Article content About Expensify Article content Expensify helps 15 million people worldwide track expenses, book travel, reimburse employees, manage corporate cards, send invoices, and pay bills — all in one place. Whether you're self-employed, running a small business, managing a team, or overseeing global finances, let Expensify handle your travel and expense, at the speed of chat. Article content Forward-Looking Statements Article content Certain statements made in this press release constitute forward-looking statements within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the launch, success and expected benefits of Expensify's global expansion efforts. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause Expensify's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including the risks discussed in Expensify's filings with the SEC, including Expensify's Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Expensify undertakes no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise, except as required by law. Article content Article content Article content
Zawya
16-06-2025
- Business
- Zawya
Pemo hits major milestone in Saudi Arabia as it announces its 200th customer
Riyadh, Saudi Arabia — Pemo, the all-in-one spend management platform, has announced a major milestone in its journey: its 200th customer has now been onboarded to use its expense management software, following a significant surge in customer adoption across Saudi Arabia. In less than two months after officially setting up operations in the Kingdom, Pemo has onboarded 200 businesses, which are eager to streamline their expense management, invoice processing, and smart corporate card usage through its cutting-edge platform. The start-up's rapid traction in Saudi follows its official market entry earlier this year, marking a new chapter in its regional expansion strategy. Since launching in the Kingdom, Pemo has witnessed exponential growth, reflecting the strong demand for fintech innovation and digital-first business tools in line with Saudi Arabia's Vision 2030. ' This milestone is more than just a number—it's a signal of the appetite for smarter, faster financial solutions in Saudi Arabia, ' said Ayham Gorani, Co-Founder of Pemo. 'We're incredibly proud to see businesses here embrace our solutions, and we're committed to deepening our investment in the Kingdom to support their growt h.' Pemo's expansion comes on the back of a series of successful funding rounds from investors, further fueling its scale-up efforts across the UAE and now Saudi Arabia. With a mission to empower finance teams across the region, Pemo continues to deliver AI-powered spend management tools that offer real-time visibility and control. The company's momentum is also reflected in its growing list of accolades. Pemo was recently named one of the UAE's Top Future 100 Companies, recognised for its innovation and impact on the national economy. It also earned a coveted spot on Forbes Middle East's FinTech 50 2025, cementing its position as one of the region's most promising fintech players. As Pemo continues to build on this success, its presence in Saudi Arabia is set to expand further, bringing smarter financial operations to more businesses and supporting the Kingdom's vision for a digitally empowered private sector. About Pemo Pemo is an all-in-one spend management platform designed to simplify and automate financial operations for SMEs in the Middle East. The platform offers expense tracking, invoice management, and smart corporate cards to empower finance teams with better control and visibility. Learn more at
Zawya
28-05-2025
- Business
- Zawya
Dubai fintech Qashio secures $19.8mln from US, MENA investors
Dubai-based fintech company Qashio has secured $19.8 million in equity and non-equity financing. The new investment round was led by Rocketship, an early-stage venture fund based in California, and participated by Oneway VC, ABN Ventures, MITAA and other investors, including family offices and banks in the Middle East and North Africa (MENA) region. Founded in 2021, Qashio operates a platform that helps businesses manage expenses and payments with integrated corporate cards and accounts payable automation. The new funding is expected to help expand the company's business across the GCC and beyond. (Writing by Cleofe Maceda; editing by Seban Scaria)
Yahoo
20-05-2025
- Business
- Yahoo
OFX Group Ltd (OZFRY) Full Year 2025 Earnings Call Highlights: Resilience Amid Challenges
Release Date: May 20, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. OFX Group Ltd (OZFRY) demonstrated resilience in a challenging macroeconomic environment, maintaining healthy margins and cash flows. The company completed an extensive share buyback program and repaid $24 million of outstanding debt, showcasing strong cash management. Enterprise segment revenue grew by 17%, driven by contributions from new partners and long-standing clients. OFX Group Ltd (OZFRY) is the first non-bank issuer of corporate cards in Canada with Visa, indicating strong operational capabilities and balance sheet strength. The company is investing in strategic transformation through the OFX 2.0 strategy, which aims to expand its value proposition and total addressable market. Net operating income decreased by 5.5% and underlying EBITDA fell by 10.7% compared to the prior corresponding period. Business confidence was subdued, particularly affecting small to medium businesses, leading to a decline in average transaction values. Revenue in the corporate segment declined by 4% due to a 22.8% drop in average transaction values. The consumer segment saw a 1% decline, with transactions down 6.4%, despite a 7.3% increase in average transaction values. OFX Group Ltd (OZFRY) faces uncertainty in providing a clear fiscal year '26 outlook due to mixed interest rate outlooks and persistent cost pressures. Warning! GuruFocus has detected 7 Warning Signs with OZFRY. Q: Can you explain the changes in the reinvestment profile and the impact on growth targets? A: Unidentified_1: The reinvestment profile has shifted to bring forward operating expenses, focusing on go-to-market programs and commercial resources. This adjustment is based on a better understanding of how these levers operate, which gives us confidence in achieving medium-term returns despite current challenges in predicting core FX growth. Q: How do you expect interest income and non-FX revenue to perform in the coming year? A: Unidentified_2: Interest income may decline if rates decrease, but growth in client wallet balances could offset this. Non-FX revenue is expected to grow significantly as the new client platform rolls out in Canada and the UK, with increased adoption by both new and migrated customers. Q: Can you provide insights into corporate customer behavior amid tariff threats and recent revenue trends? A: Unidentified_1: In February, corporate clients were cautious due to unclear tariff implementation, affecting transaction values. However, activity picked up in March and April as clients gained confidence, leading to strong revenue growth in April across both corporate and consumer segments. Q: How firm is the FY28 guidance, and what factors contribute to your confidence in achieving it? A: Unidentified_2: The FY28 guidance is based on multiple models and external validation of the strategy. While current market conditions make short-term revenue predictions challenging, we are confident in long-term growth driven by non-FX revenue and increased average revenue per client. Q: Why isn't the board pursuing a share buyback despite having a strong balance sheet and confidence in the strategy? A: Unidentified_2: The decision to pause the buyback is due to the need to preserve cash amid volatile markets and to invest in organic growth. While cash is critical for collateral and growth investments, the buyback may be reconsidered if market conditions stabilize. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
20-05-2025
- Business
- Yahoo
OFX Group Ltd (OZFRY) Full Year 2025 Earnings Call Highlights: Resilience Amid Challenges
Release Date: May 20, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. OFX Group Ltd (OZFRY) demonstrated resilience in a challenging macroeconomic environment, maintaining healthy margins and cash flows. The company completed an extensive share buyback program and repaid $24 million of outstanding debt, showcasing strong cash management. Enterprise segment revenue grew by 17%, driven by contributions from new partners and long-standing clients. OFX Group Ltd (OZFRY) is the first non-bank issuer of corporate cards in Canada with Visa, indicating strong operational capabilities and balance sheet strength. The company is investing in strategic transformation through the OFX 2.0 strategy, which aims to expand its value proposition and total addressable market. Net operating income decreased by 5.5% and underlying EBITDA fell by 10.7% compared to the prior corresponding period. Business confidence was subdued, particularly affecting small to medium businesses, leading to a decline in average transaction values. Revenue in the corporate segment declined by 4% due to a 22.8% drop in average transaction values. The consumer segment saw a 1% decline, with transactions down 6.4%, despite a 7.3% increase in average transaction values. OFX Group Ltd (OZFRY) faces uncertainty in providing a clear fiscal year '26 outlook due to mixed interest rate outlooks and persistent cost pressures. Warning! GuruFocus has detected 7 Warning Signs with OZFRY. Q: Can you explain the changes in the reinvestment profile and the impact on growth targets? A: Unidentified_1: The reinvestment profile has shifted to bring forward operating expenses, focusing on go-to-market programs and commercial resources. This adjustment is based on a better understanding of how these levers operate, which gives us confidence in achieving medium-term returns despite current challenges in predicting core FX growth. Q: How do you expect interest income and non-FX revenue to perform in the coming year? A: Unidentified_2: Interest income may decline if rates decrease, but growth in client wallet balances could offset this. Non-FX revenue is expected to grow significantly as the new client platform rolls out in Canada and the UK, with increased adoption by both new and migrated customers. Q: Can you provide insights into corporate customer behavior amid tariff threats and recent revenue trends? A: Unidentified_1: In February, corporate clients were cautious due to unclear tariff implementation, affecting transaction values. However, activity picked up in March and April as clients gained confidence, leading to strong revenue growth in April across both corporate and consumer segments. Q: How firm is the FY28 guidance, and what factors contribute to your confidence in achieving it? A: Unidentified_2: The FY28 guidance is based on multiple models and external validation of the strategy. While current market conditions make short-term revenue predictions challenging, we are confident in long-term growth driven by non-FX revenue and increased average revenue per client. Q: Why isn't the board pursuing a share buyback despite having a strong balance sheet and confidence in the strategy? A: Unidentified_2: The decision to pause the buyback is due to the need to preserve cash amid volatile markets and to invest in organic growth. While cash is critical for collateral and growth investments, the buyback may be reconsidered if market conditions stabilize. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
