Fortino Capital Backs Dutch T&E Firm Declaree

Fortino Capital Partners revealed that it has invested in Declaree, expanding its portfolio of travel and expense management companies.

Founded in 2014 by Bas Janssen, Bart Jochems and Jasper Spoor, Declaree aims to simplify and facilitate paper-based expense management processes. The firm serves 750 clients in the Netherlands, Belgium, and Germany, including KLM, Hunter Douglas, Schiphol and KPMG, Lemonaid, Suitepad and Lufthansa Group Business Services, as well as many small and medium-sized companies.

Declaree’s mobile and web application allows clients to reduce the time spent on the internal management of expenses by almost 75 percent.

“The past five years, we have heavily invested in developing our product and scaling in the Netherlands and Germany. To realize the next step in our growth we have searched for a strategic investor with knowledge and experience in international expansion. We are convinced to have found the right strategic partner in Fortino Capital,” said Janssen in a press release.

“Declaree offers a genuinely innovative solution which has already served hundreds of companies of all sizes. We are really impressed by what the team of Bas, Bart and Jasper have built over the past years, and we see enormous potential for the future. That is why we are particularly proud of being able to support the internationalization of Declaree in Europe with our expertise and investment. We look forward working together on our joint growth aspirations,” added Matthias Vandepitte, partner at Fortino Capital.

The investment allows Fortino Capital Partners to expand its travel and expense management portfolio, which started with its backing of MobileXpense in Belgium and eBuilder Travel in Sweden. And earlier this month, Fortino invested in Maxxton, an all-in one software solution developed for vacation and short-term rental managers. Fortino Capital will assist the Maxxton management to further expand internationally and strengthen its current presence in vacation rentals, holiday parks and serviced apartments.