Fortino Capital Partners has invested 20 million euros
(US$24 million) in MobileXpense. Fortino is now the majority stakeholder in the
Brussels-based expense management provider. MobileXpense will use the funds to expand
its sales and marketing efforts, enhance its portfolio of products expand internationally
and enter the medium-to-large corporate segment, according to the expense firm.
MobileXpense, founded in 2000, has implemented its software with more than
1,300 customers, including AirPlus International, Canon, Fujifilm, Nintendo and
Panasonic.