Certify, Inc./Chrome River has acquired Emburse, a virtual and physical cards provider for business expenses and vendor payments.
The financial terms of the transaction were not disclosed.
Emburse acquisition: Background
Based in San Francisco, Emburse provides a range of corporate card solutions to its client-organisations. The solutions include conventional plastic cards and virtual cards delivered via texts or digital wallets.
These solutions enable the clients to receive real-time insights into employees’ corporate expenses. Additionally, it also helps the businesses to implement their travel and expense policies.
Emburse CEO Peter Lai said: “Joining such a prestigious portfolio of travel, expense and invoice management brands will greatly accelerate our ability to expand Emburse’s reach.
“We share a common goal in helping organisations control employee spending and reduce expense fraud, all while providing a user-friendly and flexible solution to both frequent and infrequent card users.”
The Emburse acquisition further complements the acquirer’s brand portfolio which includes Abacus, Captio, Certify, Chrome River, Nexonia, and Tallie.
Initially, Emburse will be integrated into the Abacus expense management platform.
Abacus co-founder and general manager Omar Qari said: “Adding Emburse to Abacus will enable the next major step in real-time expense reporting innovation by providing policy insight in advance of the purchase.
“This exciting new capability will continue to reduce customer liability, while improving the overall employee and interview candidate experience.”