European tech investor Tenzing announced its investment in Webexpenses, a key player in the expense management software space, focusing primarily on serving SMEs and mid-market enterprises. Tenzing acquires Webexpenses from K1 Investment Management, a leading B2B software investment firm that helped fuel Webexpenses' recent growth.
International legal practice Osborne Clarke advised Tenzing on the investment. The team was led by Corporate and Private Equity Partners Tim Hewens and Pippa Byrne who were supported by Associate Director Robert Pook, Senior Associates Sian Daly and Alec Bartlett, Associate Matt Mayes and Trainee Solicitor Patrick Warren. Tax advice was provided by Partner David Nisbet, Associate Director Jonny Squires and Trainee Solicitor Edward Aves. Employment advice was provided by Associate Director Lara Flynn and Associate Zoe Marks. Commercial and transitional service advice was provided by Commercial Legal Manager Ian Solomon and Associate Aisling Farley. Australian local law advice was provided by Stephen Lu and Lisselle Lomax of McCullough Robertson and US local law advice was provided by Dotan Barnea and Claire Dronzek of Lowenstein Sandler.
Headquartered in the UK, Webexpenses has a product-led team of over 80 professionals spread across the UK, Australia and the US delivering services to a global client base. The company has introduced a payments capability and formed strategic partnerships to respond to the growing needs of finance teams by providing a comprehensive spend management suite, including accounts payable automation software.
The investment reaffirms Tenzing's commitment to supporting businesses within the Office of the CFO landscape and marks the eighteenth addition to its diverse portfolio investing in companies high-growth potential.
As part of the investment, Tenzing will leverage its expertise in its existing Growth Network to support Webexpenses in maximising its potential and foster growth in a competitive market, in areas such as sales, marketing, acquisitions, and internationalisation
Osborne Clarke’s Private Equity team is considered a go-to practice for many companies in the technology sector, working with clients ranging from global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.