Fyle

About Fyle

Fyle Technologies Private Limited operates as a cloud-driven, AI-powered expense management platform, acquired by Sage Group in August 2025. The company was established in Bengaluru, India, in February 2016 by Yashwanth Madhusudan (CEO) and Sivaramakrishnan Narayanan (CTO). The founding was driven by Madhusudan's personal frustration with the cumbersome process of filing travel reimbursements during his 14-year career in sales. He and Narayanan, former colleagues at the big data firm Qubole, aimed to create a solution that would eliminate manual work for both employees and finance teams.

The business primarily targets small and medium-sized businesses (SMBs), aiming to automate and streamline the entire expense management workflow. Fyle operates on a software-as-a-service (SaaS) model, charging a monthly subscription fee per active user. This usage-based pricing means clients are only billed for employees who actively submit expenses or use a connected corporate card. The company serves a global clientele, with customers in over 83 countries, including those in construction, non-profits, technology, and healthcare sectors.

Fyle's core service is an expense management software designed to be intuitive for employees and provide robust control for finance departments. A key feature is its ability to extract expense data from receipts submitted via everyday applications like Gmail, Outlook, Slack, and even text messages, reducing manual data entry. The platform uses Optical Character Recognition (OCR) to automatically scan and digitize receipt information. It provides real-time visibility into employee spending by integrating directly with major corporate card networks, including Visa, Mastercard, and American Express, a feature that allows businesses to retain their existing card providers. The system automates policy checks to prevent fraud and ensure compliance, and it supports multi-stage approval workflows. Additionally, Fyle offers analytics dashboards that provide insights into spending patterns, project expenses, and reimbursement times. The platform integrates with major accounting software such as QuickBooks, NetSuite, Xero, and Sage Intacct, facilitating a seamless two-way synchronization of financial data.

The company has raised a total of $15.4 million over several funding rounds from investors including Tiger Global Management, Pravega Ventures, and Steadview Capital. The acquisition by Sage is intended to deepen the integration of Fyle's AI-powered automation into Sage's ecosystem, enhancing the financial management capabilities for SMBs.