Our Journey Through Time
From a small startup in Hobart to Australia's leading expense categorization platform - discover how we've transformed financial management for thousands of businesses across the continent.
Where It All Began
Back in late 2019, our founder Sarah Mitchell was running a small consulting firm here in Hobart. She spent countless hours each week manually categorizing expenses, watching her productivity drain away on tedious financial admin work. That frustration became the spark for something bigger.
What started as a simple spreadsheet solution for her own business quickly evolved into something that could help every Australian entrepreneur facing the same challenge. We officially launched faronexiltra in early 2020, right here on Edward Street, with a mission to make expense management as effortless as possible.
Foundation & First Steps
faronexiltra officially launched with our core expense categorization engine. We started small but focused, working directly with local Tasmanian businesses to understand their real challenges with financial data organization.
- Processed over 50,000 expense entries in our first year
- Built partnerships with 15 local accounting firms
- Developed our signature smart categorization algorithms
- Achieved 94% accuracy in automated expense sorting
National Expansion
After proving our concept locally, we expanded across Australia. This was when we really learned what it meant to serve businesses of all sizes - from Melbourne startups to Brisbane enterprises, each with their own unique expense management challenges.
- Expanded to all major Australian cities
- Launched integrations with MYOB and Xero
- Processed 2.5 million expense entries annually
- Introduced multi-currency support for international businesses
Innovation & Growth
Today, we're proud to be Australia's most trusted expense categorization platform. We've helped over 8,000 businesses reclaim thousands of hours previously lost to manual financial admin, and we're just getting started.
- Serving 8,000+ active business clients nationwide
- Processing 15 million expense entries per year
- Achieved 99.2% uptime reliability
- Expanded our team to 45 dedicated professionals
Looking Forward to Tomorrow
We're not stopping here. Our vision extends beyond just categorizing expenses - we're building the foundation for smarter financial decision-making across Australian businesses.
By 2026, we plan to introduce predictive analytics that don't just organize your expenses, but help you understand spending patterns and optimize your financial strategies. We're also exploring partnerships with major Australian banks to create seamless, real-time expense processing.
Sarah Mitchell
CEO & Founder
Building faronexiltra has been about solving a problem I lived with every day. We're not just another fintech company - we're business owners who understand exactly what our customers need because we've been there ourselves. Every feature we build comes from real experience managing real businesses.