Fuell is an expense management platform that provides physical and virtual cards for employees, along with automated expense reconciliation and real-time business intelligence. It eliminates the need for traditional expense reports and simplifies budget approvals, enabling SMEs to efficiently manage their financial operations.
Funding
$2.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
ELPHFounders
Product
Problem
Small and medium-sized enterprises (SMEs) often struggle with inefficient expense management processes, relying on manual expense reports and lacking real-time visibility into spending. Traditional methods create delays, increase administrative overhead, and hinder informed financial decision-making.
Solution
Fuell offers an expense management platform that streamlines financial operations by providing employees with physical and virtual cards, automating expense reconciliation, and delivering real-time business intelligence. The platform eliminates the need for manual expense reports through automated conciliation and Optical Character Recognition (OCR) technology. Fuell also simplifies budget approvals by empowering managers to control and review employee spending. The platform integrates with existing Enterprise Resource Planning (ERP) systems to synchronize accounts and offers automated Value Added Tax (VAT) recovery by retrieving invoices from a network of retailers.
Target Audience
Fuell primarily targets SMEs seeking to streamline their expense management processes, reduce administrative overhead, and gain real-time visibility into their financial operations.
Features
- Physical and virtual cards for employees with customizable spending limits
- Automated expense reconciliation using OCR technology to extract data from receipts
- Budget and approval workflows for managers to control and review expenses
- Real-time business intelligence dashboards for detailed reporting and analysis
- Integration with popular ERP systems for seamless accounting synchronization
- Automatic VAT recovery by retrieving invoices from a network of over half a million retailers