N2F, a Bourg-en-Bresse, France-based expense management software solutions provider, has secured €24 million in strategic growth investment from Boston-based PSG Equity (also backed Zenchef and Zero North).
The company plans to utilise the funds to grow internationally across Europe to help over 20 million businesses reduce the time and cost of processing expenses.
Last year, the company also launched Keeple, a SaaS solution to manage personnel leaves and absences.
Eliminating task of manually managing expenses
In 2015, Nicolas Dubouloz and Jean-Joseph Reslinger established N2F to eliminate the laborious task of manually managing expenses.
The French platform has developed a fully-fledged expense management software with efficiency and intuitiveness, allowing customers to handle their business expenses up to four times faster.
The French platform digitises the entire process of logging, approving, and archiving expense reports, simplifying the daily life of accountants, managers, and employees.
The platform also combines features such as smart scanning, tax-compliant archiving, real-time monitoring, and AI-powered anti-fraud in a user-friendly and intuitive application.
Further, the company’s software solution provides native integrations with accounting software, banks, travel agencies, or fleet management solutions.
Since its inception, N2F works with more than 10,000 businesses across 86 countries, with a product available in 11 different languages.
Although it was created for SMEs, N2F is now capable of catering to companies of any size. It is currently utilised by major European corporations like Iliad, DMG MORI, and Holidu.
“We believe that this partnership with PSG marks the beginning of a new phase of growth for our business and reaffirms both the relevance of our solutions and our position as a market leader,” added Nicolas Dubouloz, CEO of N2JSoft. “We are delighted to have an expert in the European Bt2B SaaS market by our side going forward; not only do we share the same values, but also the aspiration to grow the business with customer satisfaction and employee well-being at its heart.”
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them grow, capitalise on strategic opportunities and build strong teams.
“Combining advanced technology with leading customer service has been N2F’s secret in achieving such exceptional growth in 2022” said Edward Hughes, Managing Director at PSG. “With N2F, we believe we have identified one of the best software solutions in the market and with its established track record of innovation and success, we believe the company has tremendous growth potential. We are excited to partner with Nicolas and the N2F team and look forward to growing the business together.”
