About Us

Expensify Ventures

Putting the “Fun” in Fundraising

Fundraising is pretty much the worst part of a CEO’s job. Whether awkwardly pitching friends and family around the dinner table, attempting to wine and dine an angel investor while praying they pick up the tab you can’t afford, or making the pilgrimage to Sand Hill Road to prostrate yourself before the altar — it’s not fun. Nobody got into this business to beg for money, but changing the world is often expensive, and that cash has got to come from somewhere. We know; we’ve been there. But we’ve made it through the ring of fire (many times) and are now in a position where we’re ready to give back. Let us help.

Portfolio Companies

Morgan Giddings, CEO

Piper is redefining the use and delivery of the receipt to a modern option that avoids extra steps for both merchant and consumer. The Piper Receipting Platform (PRP) automatically captures detailed transaction receipt data anywhere credit or debit cards are used, without requiring the sharing of an email address. As a cloud­-based service, Piper provides consumers and merchants with storage and access to receipts, regardless of device or transaction type.

More info coming soon!

We've made another investment and will be announcing a new partner in the coming months. Stay tuned for more information!

A Unique Kind of Investor

Just like Expensify isn’t a normal startup, Expensify Ventures is not a normal VC. We aren’t a financial management firm selling a diverse portfolio of long bets to an external group of investors. Rather, we’re a fast-growing, profitable company at the forefront of our industry. This means we uncover huge opportunities faster than we can execute upon them with our team alone. So rather than losing focus and stretching ourselves too thin (or just putting more money in the bank), we’re putting our money to work enabling other teams to pursue opportunities that we can’t ourselves and then helping them in much more important, non-financial ways.

How To Apply to Expensify Ventures

Similar to how Expensify doesn’t require a meaningless resume to apply for a job, we don’t want you to waste time building some fancy deck full of buzzwords and fictional charts. Instead please just read the FAQ below, and then send a simple text email no pictures to ventures@expensify.com with answers to the following questions:

  1. What is the URL of your website? If you don’t have one, why not?
     

  2. Tell us about what it is you do (programming, systems engineering, sales, etc.), when you started, and what you've done between then and now.
     

  3. What do you want to do with the rest of your life, and how is your startup a step toward your long-term goals?
     

  4. Who is your customer, and what problem do they have that you intend to solve? (Don’t talk about your solution, just describe the problem itself.)
     

  5. How would a customer describe your solution? (Don’t talk about the secret internal details; just talk about how it appears to an external customer.)
     

  6. What is the biggest mistake you feel the competition is making, and that you’re going to use against them?
     

  7. What have you done so far? Is it just an idea, or have you built a prototype, or do you have real users or even paying customers?
     

  8. How much of this can you do yourself, given enough time, versus how much depends on people you have yet to hire?
     

  9. Who has already invested, and how much? If nobody, why not?
     

  10. How much do you truly need to get to the next stage, and how exactly would it be spent?  Get detailed here and prove you have a real plan, don’t just throw out a number you think we want to hear.

Again, just a simple text email — no pictures to ventures@expensify.com will suffice.  If you do want to attach documents to the email (eg, if you’ve already made a deck, or have materials you feel are really important to include) feel free to do so. But for optimal results, please focus on dazzling us with your compelling words, not your flashy slides.

Frequently Asked Questions

You’ve got questions, we’ve got answers:

What industries do you focus on?

Given that we’re primarily investing in partners, we’re looking for investments that can partner with Expensify in the short or long term. This means the best fit will be startups dealing with financial technology, mobile OCR, travel services, payments, or really anything relevant to business travelers and the accountants who serve them.
 

What stage company do you invest in?

Though we’re “stage agnostic”, we generally write smaller checks appropriate for a seed stage company. We don’t require other investors (eg, we’re happy to invest alone), though we typically only invest when we’re confident the company has the resources to execute and that often means investing alongside others.
 

Can I still partner with Expensify even if I don’t need the money?

Of course! In practice, the money we bring to the table is just the cherry on top. Our goal is to build great partnerships in any way possible, so the majority of the value we deliver will likely be by sending you customers, investors, or advice.
 

How big is the Expensify Ventures fund?

We’re not a VC, so that question doesn’t really apply. We didn’t “raise a fund” from a collection of “limited partners” so we don’t have the “use it or lose it” dilemma of a typical VC. Rather, we just invest our profit in opportunities that make sense.
 

Why should I take money from Expensify Ventures versus a traditional VC?

To be clear, it’s not an either/or topic. We often invest alongside other VCs. Accordingly, you should consider raising from Expensify Ventures whenever you feel a partnership with Expensify could help accelerate your business faster than cash alone. You should especially approach us if you feel Expensify could be a good partner and your business isn’t getting the attention it deserves from other investors: we can not just provide cash to get you through the dark days, but also help legitimize the business and find larger investors to take you to the next level.
 

Why don’t you want to see my fancy deck full of amazing projections?

Because I’m sure it’s bullshit, and you know it is too. Unless you’re in the business of making gorgeous powerpoints full of imaginary charts that all miraculously go up and to the right, we don’t really care how good of a job you do at that. (Though if that is your business, then we’re still not interested.) Great ideas don’t need to be exaggerated, they stand out in words alone.