Expense management provider Rydoo has acquired Semine, a company specializing in AI-powered accounts payable automation technology. Financial terms of the deal remain undisclosed.
Rydoo serves over a million users globally, streamlining expense management and enabling finance teams to maintain real-time oversight of employee spending. By integrating Semine’s fully automated accounts payable workflows, Rydoo aims to create a comprehensive solution that enhances efficiency, control, and strategic insights for its clients.
This acquisition follows Rydoo’s recent change in majority ownership to French private equity firm Eurazeo, as the company seeks to broaden its presence in the U.S. market.
Sebastien Marchon, CEO of Rydoo, stated, “This is a true convergence of visions, talents, and cultures, bringing us closer to our ambition of building a world-class platform for finance teams.”