Rydoo, a provider of artificial intelligence (AI)-driven expense management solutions, has acquired Semine, a European innovator in accounts payable (AP) automation.
The financial details of the acquisition remain undisclosed.
Semine, through its AI-powered AP automation technology, supports over 10,000 customers with invoice processing and real-time spend visibility.
The merger aims to establish a comprehensive platform for smart spend management across Europe, leveraging Rydoo’s global reach and customer base.
The integration seeks to enhance efficiency and control throughout the entire spend lifecycle. Semine is said to have witnessed rapid growth in the Nordic region — with a 54% increase in annual recurring revenue (ARR) last year and expectations of reaching approximately NOK130m ($12.8m) ARR by the end of 2025.
Semine CEO Bjørn Røsten said: “Having established ourselves as the leading innovator and fastest-growing provider in accounts payable, I’m incredibly excited about our next chapter together with Rydoo.
“This partnership not only allows us to broaden our product portfolio but also accelerates our ability to bring cutting-edge solutions to a wider European market. What truly matters to me is that Rydoo shares our passion for technology and excellence — together, we’re poised to deliver the most advanced and future-ready offering in the industry.”
Semine utilises proprietary AI to manage complex financial data, capturing over 100 data points per invoice. This capability provides finance teams with real-time analytics, automated policy checks, and streamlined approval processes.
Operating in over 25 countries, Semine is expected to bring significant Nordic expertise and a scalable expansion strategy to Rydoo’s operations.
By merging expense management with automated AP workflows, Rydoo and Semine aim to deliver enhanced efficiency, strategic insight, and control. Their combined solution promises end-to-end visibility of expenses, actionable analytics, AI-enabled policy checks, and seamless enterprise resource planning (ERP) integration capabilities.
Rydoo’s CEO Sebastien Marchon said: “Both of our companies are rooted in the same essential values: customer obsession, product excellence, humility, collective intelligence, and passion. This is a true convergence of visions, talents, and cultures, bringing us closer to our ambition of building a world-class platform for finance teams.”
The acquisition builds on Rydoo’s expansion efforts following Eurazeo becoming a majority shareholder last year.
Rydoo serves businesses in more than 130 countries, having surpassed €20m in ARR. Its platform enables quick expense submissions while providing finance teams with real-time oversight and automated processes for heightened compliance.
