Fortino Capital Partners broadens its expense management portfolio with the acquisition of Declaree, the successful, innovative and fast-growing local leader in digital management of travel and expenses.
Fortino Capital Partners expands its portfolio of Travel & Expense management companies with its investment in Declaree, the innovative Dutch challenger. Fortino Capital Partners has previously invested in MobileXpense in Belgium and eBuilder Travel in Sweden. Both companies are active in expense management and focus primarily on multinationals and government organizations that have to comply with different and often complex regulations for their global operations in various countries. With Declaree, Fortino Capital is continuing its European ambitions to set up a pan-European expense management group. Declaree further complements Fortino Capital’s portfolio, both in terms of addressed customer segments and in terms of geography, resulting in a group of more than 1,000 customers and 150 FTEs.
Lindenaar & Co acted as advisor to Declaree and coordinated the transaction process, including and amongst others the search for potential investors, preparation of the information memorandum, evaluation of bids, negotiation and due diligence coordination.
Profile Declaree
Declaree offers a digital solution for the management of expenses. Declaree has offices in Rotterdam and Berlin. Bas Janssen, Bart Jochems and Jasper Spoor founded Declaree back to 2014. The company has more than 750 clients, mainly located in the Netherlands and Germany. Declaree delivers its solution to large customers such as KLM, KPMG, KPN, Hunter Douglas and Schiphol as well as a large group of SMEs.
Profile Fortino Capital Partners
Fortino Capital Partners is an investment company that was founded in 2013 and is led by Duco Sickinghe, Renaat Berckmoes and Matthias Vandepitte. Fortino Capital invests in innovative companies, whereby they accelerate businesses and turn ambition into growth. The company manages a venture capital fund of EUR 80 million and a digital growth fund of EUR 200 million which focuses on software and digital transformation. Fortino Capital's investment portfolio includes MobileExpense, Maxxton, Dobco Medical Systems, LetsBuild, Teamleader, and Bloomon among others.
Profile MobileXpense
MobileXpense is a leading provider of global Travel Expense Management solutions for large multinationals and governmental organizations. MobileXpense’s uniquely flexible SaaS solution simplifies a complex and often time-consuming problem for business travelers, HR departments and accounting departments around the world. MobileXpense serves more than 1.2 million end-users over 100 countries. Customers include Bridgestone, Canon, BCD Travel, and many more.