Reimbursement and spend management platform PayEm secures $220M in equity and debt

When Itamar Jobani, a software developer by trade, was working for a healthcare company, he dreaded doing expense reports every month using his employer’s preferred reimbursement tool. Jobani looked for an alternative, but didn’t end up finding one — and so he built it himself.
PayEm, as it came to be known, launched in 2019 — Jobani partnered with fellow developer Omer Rimoch to get the idea off of the ground. Creating a spend and procurement platform from scratch might’ve been a big risk, but it appears to have paid off for Jobani, who claims that PayEm now has “