Our shareholder, Fortino Capital Partners, has expanded its portfolio of Travel & Expense Management companies with its investment in Declaree, a Dutch challenger in the market. After the acquisition of MobileXpense in Belgium and eBuilder Travel in Sweden, this is Fortino Capital's third investment in the market of expense management.
Declaree was founded in 2014 by Bas Janssen, Bart Jochems and Jasper Spoor with the ambition of simplifying and facilitating paper-based expense management processes. Since, Declaree has grown to 20 employees and 750 clients, mainly located in The Netherlands and Germany. In The Netherlands and Belgium, Declaree serves large customers such as KLM, Hunter Douglas, Schiphol and KPMG, as well as many small and medium-sized companies. In Germany, it serves companies such as Lemonaid, Suitepad and Lufthansa Group Business Services.
Fortino Capital Partners started its growth journey in Travel & Expense Management by investing in MobileXpense in Belgium and eBuilder Travel in Sweden. Both focus on multinational and governmental organisations that need to comply with different and often complex rules in all the countries where they operate; while Declaree will further focus on serving small to medium-sized companies.
We are particularly proud of being able to support the internationalisation of Declaree in Europe and wish the team a warm welcome to the family!