Expensify Diversifies into Personal Finance with New App

Expensify, the renowned business expense management firm, is venturing into the personal finance domain. The company has launched a new app that allows users to send and receive money, split bills among individuals and groups, and chat.

Expanding into Consumer Payments

Leveraging its nearly 15 years of experience in developing business expense management technology, Expensify is expanding its horizons into the consumer payments sector. The firm’s founder and CEO, David Barrett, described the new offering as a “financial superapp” that caters to both professional and personal financial needs. The app combines elements of popular platforms like WhatsApp, Venmo, and Splitwise, providing a consumer-grade service that scales up to enterprise-grade receipt scanning, expense reports, and corporate cards.

Bill Splitting Feature in Testing Phase

Currently, Expensify is testing an early version of the bill splitting feature in the new app at the Money20/20 conference in Las Vegas. The feature promises to bring ease and convenience to users by allowing them to divide expenses among individuals or groups seamlessly.