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§ Private Profile · 2035 Sunset Lake Rd Ste B2, Newark, Delaware, 19702, United States
SaaS spend management platform simplifying expense reporting and management for SMBs, emphasizing user experience and real-time receipt submission.
Fyle is a New York-based software company that provides a next-generation spend management and expense reporting platform designed specifically for small and medium-sized businesses. Operating through a software-as-a-service business model, the enterprise platform simplifies traditional accounting workflows by enabling real-time receipt submission and automated data extraction directly through text messages. By leveraging big data and advanced analytics, the system addresses common administrative frustrations in corporate expense filing while increasing financial visibility for accounting professionals. The technology integrates with existing corporate credit cards to track employee spending across multiple internal departments. To support its ongoing platform development, the company has raised over $14 million in venture capital funding from prominent institutional investors, including Steadview Capital, Tiger Global Management, and Pravega Ventures. Fyle was officially founded in February 2016 by co-founders Yashwanth Madhusudan and Siva Narayanan.
Fyle has raised $6.2M across 3 funding rounds.
Fyle has raised $6.2M in total across 3 funding rounds.
Sage Expense Management (formerly Fyle) is an AI-powered expense management platform that automates tracking, coding, reconciliation, and syncing of business expenses with accounting software. It serves small to mid-sized businesses (SMBs), mid-market companies, finance teams, and employees frustrated with manual reporting, solving pain points like receipt hoarding, data entry errors, slow approvals, and compliance issues by enabling real-time credit card feeds and effortless submission via text or photo.[1][3][5] Over 2500 companies and 260 partner accounting firms use it, with strong growth marked by integrations with Visa, Mastercard, American Express, and a 2025 acquisition by Sage to scale globally for SMBs.[1][5]
Fyle was founded in 2016 by a team tired of manual, broken expense reporting processes they experienced themselves as overwhelmed employees.[1][3] The idea emerged from personal frustration with spreadsheets and paper receipts, leading to the launch of the first version in 2017 with select customers.[1] Key milestones include a $4.2 million Series A in 2019 for global expansion, going fully remote in 2020, deeper accounting integrations in 2021, pioneering real-time Visa feeds in 2022, Mastercard partnership in 2023 (covering 75% of US credit cards), American Express integration and Conversational AI launch in 2024, and joining the Sage family in 2025 to amplify its mission.[1]
Fyle rides the AI-driven automation wave in fintech, targeting the $100B+ expense management market where 80% of SMBs still rely on manual tools amid rising remote work and card spend.[1][3] Timing is ideal post-2020 remote shift, with real-time integrations capitalizing on open banking trends and payment networks' APIs, influencing ecosystems by enabling banks/issuers with no-code platforms and setting standards for conversational expense AI.[1][4] It empowers SMBs against enterprise giants like Expensify or Brex by prioritizing ease over card issuance, fostering faster closes and compliance in a compliance-heavy, audit-prone era.[3][5]
Sage Expense Management (ex-Fyle) is poised for explosive growth under Sage, expanding AI enhancements like co-pilots and project tracking to millions of SMBs globally. Trends like embedded finance, multimodal AI (text/voice receipts), and regulatory pushes for real-time reporting will propel it, potentially dominating no-code expense automation. Its influence may evolve from innovator to category leader, simplifying expense chaos for a distributed workforce—proving that starting from personal pain can effortless-ly transform an industry.[1][4][5]
Fyle has raised $6.2M in total across 3 funding rounds.
Fyle's investors include Ravi Mehta, General Catalyst, Kunal Shah, Satya Devarakonda, Pravega Ventures, Tiger Global.
Fyle has raised $6.2M across 3 funding rounds. Most recently, it raised $5.0M Series A in October 2019.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Oct 1, 2019 | $5M Series A | Ravi Mehta | General Catalyst, Kunal Shah, Satya Devarakonda, Pravega Ventures, Tiger Global | Announced |
| May 1, 2019 | $150K Series A | — | General Catalyst, Kunal Shah | Announced |
| Apr 1, 2018 | $1M Seed | — | General Catalyst, Kunal Shah | Announced |