Fortino Capital has invested €20m in expense management software company MobileXpense.
Fortino has invested in the Brussels-based cloud software group from its Digital Growth Fund. The firm plans to help the travel and expense management software group expand internationally, broaden its product portfolio and grow in the medium to large corporate segment.
MobileXpense’s software management tools integrate with all major ERP systems, travel booking tools and credit card issuers. The company has completed more than 1,300 implementations for 200 customers in more than 80 countries.
MobileXpense was founded in 2000 by Xavier Deleval and Patrick Billiet, who had previously worked together at Shell.
Fortino was founded in 2013 by Ducko Sickinghe, Renaat Berckmoes and Matthias Vandepitte. Its portfolio includes Bloomon, Teamleader, Aproplan, Slick Software Solutions, inSided and TrendMiner. The firm recently hit a €125m first close on its second fund.