Certify took one major step forward earlier today as it formally acquired Captio, the biggest expense management brand in Europe. With the Captio acquisition, Certify not only makes itself a force to be reckoned with—especially against competing firm Concur—but also takes its first steps into a global operation.
Captio’s user base is seen throughout Europe, but is strong in some of Europe’s largest economies, including France, Italy, Portugal and Spain. Now, with Captio on hand, Certify’s user base now features over 10,000 customers in over 90 different countries, giving it a real edge on the wider market. With Certify now in charge, the combined operation will continue working its current product lines, while also offering current customers on both sides access to the new products received accordingly.
Captio co-founder Joel Vicient noted “For six years we’ve worked very hard to create a tool that makes it easier for business travelers to record their expenses and for companies to manage those expenses and simplify reimbursement. We’re proud of the progress we’ve made and the success of our customers. Aligning with Certify will allow us to expand our product further, enhance support to existing customers, and secure new customers while accelerating our plans for growth.”
An arrangement like this commonly does well, because now, both companies’ markets become one larger company’s market. Captio customers can readily be offered access to Certify tools, while Certify customers get the Captio catalog to leaf through, so to speak. Both companies already have a positive reputation with their customers, so the job of selling becomes that little bit easier. Granted, not all of Certify’s customers will want Captio products and vice versa, but if even 10 percent of each market does, that’s a hefty slug of sales that suddenly hits the company’s coffers.
All of this is before we even start to consider what Captio and Certify could develop together with both their operations working in tandem. It’s a safe bet that the newly-expanded Certify will roll out some real winners in the days ahead, so seeing just what those are will prove exciting.
Ellie Dautner, a finance postgraduate from the University of San Diego, is an expert journalist in fintech and mobile payment technology. She specializes in writing about fintech, mobile payments, startup funding, and acquisitions.