Yokoy provides midsize to enterprise customers with a software-first spend management platform that automates expense management, supplier invoice handling, and corporate card processes using AI and API integrations. The product offers customizable process flows, integration with major third-party tools, and a self-learning algorithm that continuously optimizes workflows. The company says it can substantially reduce legacy expense-processing costs and cites a customer-base claim of optimising spend for over 80,000 employees. Yokoy counts more than 500 clients including DPD Group, ASK Chemicals, On, and Bitpanda, and has grown to a team of over 100 employees. The three-year-old, Zurich-based company will use the new funding to accelerate international expansion, continue R&D in its AI, and expand its team. To date Yokoy has raised approximately $107.8 million. Yokoy offers an AI-based full spend management suite that combines automation, API integrations and machine learning developed in its own research lab. The platform bundles expense management, supplier invoice management and corporate credit cards in a single tool, underpinned by security and stability. Midsize to enterprise customers can configure Yokoy to fit their global corporate structure and business processes. The company serves more than 400 midsize and enterprise customers worldwide, including DPD Group, Stadler Rail, Russia’s Sberbank and Swissquote. Founded in 2019 and led by CEO Philippe Sahli (with CTO Dr Devis Lussi, CCO Lars Mangelsdorf, CMO Melanie Gabriel and CFO Thomas Inhelder), Yokoy positions itself for enterprise deployments. It intends to use its recent funding to expand operations, accelerate growth into the US, Europe and additional regions, and further enhance the technologies underpinning the platform. Expense Robot builds an AI-powered platform to fully automate expense reports and company credit card transactions, aiming to reduce manual work from about 20 minutes per report to as little as five seconds. The technology automates workflows for employees, managers and finance teams and books transactions directly into ERP systems. It supports complex setups including multi-legal-entity, multi-currency and rank-specific policies. Expense Robot went live with a first wave of customers in September 2019 and has since signed customers such as Swissquote, Kägi, Ameropa and SkyCell. The company announced a €1.6 million seed funding round and will use the proceeds to expand its mission and grow the team.

Total raised

$108M

Funding rounds

3

Latest round

Series B

Latest activity

Mar 2022