The all-in-one spend and expense management platform
Expend is the easiest way to manage expenses
More than 25% of business hours are
spent on financial admin and
bookkeeping, which impacts productivity
across all areas of an organisation.
Expend is the all-in-one spend and
expense management platform for small
and medium sized enterprises, suitable for
a few to hundreds of employees.
By simplifying and automating the process
for finance teams and employees alike,
Expend provides a core solution to keep
businesses efficient.
All the tools you need for beautiful expenses
Manual
data entry
The Problem: Expenses are messy
All businesses need to spend money and create expenses. Traditionally, there are many
steps involved, consuming business hours and wasting company money.
Take
valuable
time
Waste
company
money
Lost
receipts
Rejected
expenses
Long
complicated
process
Prone to
human
error
Non-
compliant
processes
Unable to
budget
accurately
Cost of
multiple
subscriptions
Incompatible
software
Different
data
sources
Stressed
employees
No clarity on
company
spending
●
Expend is a cutting edge expense management platform with a banking backbone.
● We make things simple by combining expense management tools and integrated
payments into one platform, helping customers say goodbye to multiple apps, logins
and subscriptions.
● Our mission is a zero-touch, AI-assisted service that frees companies of needless
admin.
The Solution: Expend
Expend is the easiest way to manage expenses and spending
The Solution: Expend’s Features
One Platform To Rule Them All
Expense & Spend Management
●
Feature rich and AI powered
● Maximise accuracy and
improve efficiency
Payment & Banking Services
●
Tools including smart
payment cards
● Complete control over
spending and budgets
Accounting Automation
●
Simplifying and automating
financial reporting
● Compliant filing of accounts
For unrivalled automation and efficiency, businesses manage expenses and spending
on-the-go via our mobile app or through our web dashboard.
Whether you’re an employee on-the-go, an accountant needing things in order, a CFO, a
cost controller or financial director managing company expenditure: Expend has you
covered.
Expend helps businesses become more efficient and effective throughout their entire organisation. Expend also helps
strategic commercial partners in the financial, HR and accounting sectors improve their value proposition.
Our Customers
SEO
Customer Acquisition Channels
Strategic
Partnerships
Accountants
Integrations
(Accounting &
Business
Software)
Partner
Services
Technology
Licensing
Events
Digital
Marketing
Advertising
Thought
Leadership
Direct
Sales
Attractive
Pricing
Word of
Mouth
Organic
Growth
Product
Development
Organic and up-selling growth
Partnerships
Direct and Online Marketing
Affiliates
and
Referrals
Our Customers Say...
We have a rapidly expanding user base which is growing organically
and gaining real momentum. CFOs, finance teams, accountants -
and even our investors! - love us, and help spread the word about
Expend.
With a greater focus on strategic partnerships, our growth rate is
expected to increase significantly.
Check out more of our reviews!
“I was so impressed I asked to be included in
their next fundraising round and am now a
shareholder!
Expend hit a sweet spot for functionality and
pricing for SMEs, and also user support. The
combined payment card and expenses app
means that our team no longer needs to spend
hours reconciling foreign currency receipts and
GBP credit card statements before completing
expense forms. They can do it on the fly saving
time and dramatically improving compliance.”
Tim Williams – Edward Elgar Publishing
“It's just SO EASY. I've never used such a quick
and easy system before and feel a bit wistful for
the hours I’ve previously spent filling in
spreadsheets and photocopying or scanning
receipts.”
C Mills
“First class in every aspect.”
Gary – Culture Creative
The Growth Opportunity
The problem is near-universal. All sizes of businesses have expenses. The global
market potential is huge.
Size of expense &
travel industry by 2027
Small and medium-sized
enterprises in Europe
Cost of false expense claims
per year for UK businesses
Source: Grand View Research, 2019
Source: European Commission, 2018
Source: Global Payroll Association, 2019
£13bn
25m+
£2bn
*Market size based on an example of avg
user annual charge of £201
Sector Analysis
There are some highly profitable companies in the Expense Management Software and Corporate Card space, however
they don’t offer a truly all-in-one solution or the autonomy and user experience that we do.
An example of a traditional expense management company (SaaS)
● Concur is an example of a SaaS only company predominantly targeting large businesses.

●
They are not built on a banking/payments infrastructure.
●
They have $1bn+ in revenue and 46.5m users (2018).
● Concur were acquired by SAP for $8.3bn in 2014.
Our hybrid revenue model has the ability to generate more revenue per user than traditional companies in the sector.
If we achieve 10% of Concur’s user base as paying customers, based on modelling of an average revenue of £201 per user
per year, we will generate £900m+ annual revenue.
We’re experiencing strong growth
●
Expend grew well over the previous 12 months:
Revenue has more than doubled since the start of
the pandemic
●
The average customer size and weekly customer
activity has been growing at an increased rate
●
The usage trends and retention rates for our card
product are very encouraging
●
Spend per active customer and average number of
cards per customer is trending upwards
● With the planned changes to billing of our SaaS offering
there will be further significant increase in monthly
revenue
Revenue
User Growth
Redacted version for public use. For more information on
commercials, please contact us directly for private insight via
investors@expend.com
We are here!
We have been good custodians of investor funds in developing our market leading
platform, with big plans for the future.
Platform Objectives
User numbers
Market Size
Avg company size
Revenue
Return per user
Product stickiness
Partnerships
Multi-user support
Financial systems
Cross platform app
Payment card
Expense Claims
Accounting integration
Expense Claims
Support all transaction types
Support third-party providers
Mileage support
Smart capture service
Product Development & Traction
International rollout
Additional payment products
Partner products
Feature iteration
Improved automation
More business types supported
Revenue Generation & Scale
Forecasting
Business intelligence
Increasing
Competitive Advantage
We have built our own proprietary cloud based, bank-level treasury
and payments infrastructure, allowing Expend to give greater
power and flexibility to our customers.
Most payment companies rely on outdated third party systems.
This restricts innovation, agility and opportunity.
The Expend platform is underpinned by our unique payments and
banking infrastructure - ‘The Expend Treasury’.
This gives us huge value and flexibility to innovate, greater
defensibility and unrestricted ability to exploit multiple commercial
opportunities.
Our treasury infrastructure is a great asset - such infrastructure
typically costs banks €10-100’s millions to create (McKinsey Article).
Expend’s Treasury and Infrastructure
Expense
Management
Payments
Smart Data
Capture
The Expend Difference
Expend is uniquely designed to be fully agnostic to the payment source of the expense, with a
comprehensive suite of services - companies in these sectors typically provide only one or two tools.
More broadly, we can support businesses with every type of expense and expenses function that a company might require.
Mileage
Tracking
Invoice
Management
Expense
Management
Receipt
Data
Extraction
Smart
Business
Cards
Realtime
Reporting &
Accounting
Spending
Rules
Budget
Control
Expense Management Solution (SaaS)
●
Subscription revenue on a per user basis (see table)
Smart Business Card (Payments/Banking Fees)
●
Foreign exchange fees
● Out of plan fees
●
Transaction commission (Mastercard Interchange)
Technology Partnerships & Future Revenue Streams
●
Licensing and commercial partnerships
●
Premium features, credit and banking products, custom reporting
Revenue Streams
A unique Financial Technology and SaaS platform (‘FinSaaS’) with multiple scalable
revenue streams.
Stream 1
(SaaS):
Avg £ GBP per
user
Stream 2
(Interchange):
Estimated on
£500 monthly
card spend
Example:
Total avg yearly
revenue per user
£84 - £168 / yr
~ £75 / yr

~ £159 - £243 / yr
Revenue Streams
●
The hybrid SaaS and payment business model is exceptionally strong and creates high revenues efficiently due to
multiple revenue streams.
●
If Expend achieves a fraction of the market share of incumbent ‘SaaS only’ companies such as Concur, we will
generate hundreds of millions in revenue annually.
●
Expend is a sticky product with high retention rates, leading to substantial customer lifetime values.
The Investment Opportunity
New investors will join select investors and advisors from Deutsche Bank, Metro Bank, Goldman Sachs, J.P Morgan, RBS,
Oxford Technology, Jacobs Douwe Egberts, Westpac, Barclays and others within the payment, SaaS and complementary
sectors.
Become an Expender
The universal nature of the problem we solve across any size of business offers a huge market ripe for disruption.
This funding will enable us to:
Grow sales and marketing to further
target the SME and corporate
markets
Increase value and productivity
through product enhancements
and partner products
Offer Expend more widely to
international users
40%
40%
20%
The Founders
A passion for products
First meeting at Google TechHub, Johnny and Rudolph are both highly experienced, forward thinking individuals with an
endless drive to create the world’s greatest company payment and expenses solution.
Johnny is an experienced business founder, having created successful
businesses and products from scratch.
He has worked on a broad array of projects ranging from financial solutions to
consumer / retail / B2B products as well as building data products, intelligence
systems and partner networks.
Performing a variety of roles and developing a wide range of skills during his
20 years in the tech industry, Johnny has strong product, operations,
management, commercial, sales, marketing and partnership experience.
Johnny has both worked with and built products utilised by consumers and
companies including Samsung, Vodafone, Tesco and Condé Nast.
Rudolph creates new solutions and products that turn business ideas into
reality. Rudolph specialises in transaction processing and data modelling and
has a deep understanding of payment systems, their security requirements
and implementation.
He has more than 15 years experience as a Payment System Architect,
specialising in debit card systems integrated into many payment networks
including Visa and MasterCard.
Rudolph was the technical authority for a new inter-bank clearing system
deployed in Singapore that enables payments from one bank to another.
He was a co-founder of a successful South African Telecom startup, founded
in 2003.
Johnny Vowles
CEO
Rudolph van Graan
CTO
This document is intended for the addressee only and may contain private and
confidential information or material which may be privileged.
© Expend Limited 2021
Disclaimer
No representation or warranty, express or implied, is given by the company and its advisors as to the
accuracy or completeness of the contents of this document, or of any other document or information
supplied at any time in connection with any proposed investment in the company.
It is emphasised that this document is given to you relying upon your acknowledgement and acceptance
that it is exempt from the general restriction in s.21 of the Financial Services and Markets Act 2000
relating to the communication of invitations or inducements to engage in investment activity, because you
either have professional experience in matters relating to investments (i.e. an investment professional
falling within Article 19 (disregarding paragraph (6) of that Article) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (“the Order”)),or are a high net worth company falling within
Article 49 (disregarding paragraph 2(e) of that Article) of the same Order.
The communication is directed only at such persons and entities and should not be relied or acted upon
by those who do not satisfy either of the relevant definitions in the Order. Our advisers may be paid fees
from the proceeds of the investment.
Contact Us
www.expend.com | investors@expend.com