Nigerian founders launch AI receipt app Expense AI, hit 10k users

Nigerian co-founders Precious Arikeri and Wahab Balogun abandoned their bank-aggregation app Trackfundx after rising API fees, frequent outages, and a cross-border move exposed its limits. They rebuilt the product around generative AI that scans receipts directly, launching Expense AI in 2024.

The shift eliminated dependence on local banking infrastructure, allowing the tool to work anywhere. Today Expense AI claims more than 10,000 users in over 100 countries and has processed upwards of 80,000 expense entries. Subscriptions start at $8.99 per month, priced locally at ₦2,500 in Nigeria, and the founders aim to reach one million users and $100,000 in annual revenue.

Expense AI lets users select a period and payment card, upload receipts, and generate PDF or Excel reports. Beyond expense tracking, it now includes income logging, budgeting, savings targets and personalized financial insights—features carried over from the original Trackfundx vision.

If you manage money across multiple accounts or live outside Nigeria and find bank-linked apps unreliable, would you consider switching to an AI-driven receipt scanner like Expense AI for a simpler, location-independent way to track spending?

SOURCE: https://techcabal.com/2026/09/19/expense-ai-day-1-1000/