Rydoo
Rydoo's origins trace to Xpenditure, an expense management startup founded by Lorenz Bogaert, Boris Bogaert, and Koen Christiaens in Mechelen in 2011, alongside iAlbatros, a business travel management tool. In 2018, Sodexo combined the two products into Rydoo, operating as a "corp-up" joint venture that gave Sodexo digital expense management capabilities for its corporate services portfolio.
The platform automates expense flows from receipt capture (via mobile OCR and AI) through approval workflows to ERP integration and reimbursement, handling multi-currency and multi-entity expense reporting at scale. With approximately 150 employees and offices in Mechelen, Manila, and Lisbon, Rydoo serves enterprise clients across Europe.
Co-founder Lorenz Bogaert later founded Cashfeed, applying similar SME Fintech principles to the e-invoicing market. Rydoo competes with Expensify, SAP Concur, and Spendesk in the travel and expense management category.
Stated facts & numbers
- Bogaert had exits from Realo, Delta and Rydoo, with 2016-2017 being particularly active exit years. (0:29:16, BlackBird Business Events 2024-08-09)
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In the media3
Netlog co-founder Lorenz Bogaert (StarApps) shares how pivoting saved every company he built, why selling a company is the hardest thing an entrepreneur does, and why Belgium's envy culture holds back tech entrepreneurship.
Serial entrepreneur Lorenz Bogaert (Netlog, Twoo, StarApps) explains his venture studio playbook: validate before incorporating, keep teams under 50 people, bet on resilient founders, embrace founder-led sales and compliance-by-design, and let go once the venture flies.
Serial entrepreneur Lorenz Bogaert (Netlog, Twoo, StarApps) shares hard lessons on funding mistakes, founder exits, the 2008 Netlog deal that collapsed, startup studios, Ghent's 'mafia' ecosystem, and his dream of a Belgian tech IPO.