Webexpenses has been acquired by Tenzing
Arrowpoint Advisory’s TMT team have advised K1 Investment Management and ELMO Software on the sale of Webexpenses, a leading provider of expense management and accounts payable automation software, to Tenzing, a private equity investor in high-growth small-to-medium enterprises across the United Kingdom and Europe.
Founded in 2000 Webexpenses is a category leading expense management and AP automation SaaS provider, headquartered in United Kingdom with additional offices in Australia and North America.
Andy May, Managing Director at Webexpenses, said: “K1 has been a wonderful partner in helping us reach this new phase of growth. We’re grateful for the partnership and excited for what’s next with our new partners at Tenzing.”
Ian Guilfoyle, Director at Arrowpoint Advisory, concluded: “We are delighted to have supported K1 and ELMO on this transaction. Webexpenses is the UK’s leading integrated Office of the CFO platform and Tenzing is the perfect partner to support the company in the next stage of its growth.”