American Express to Acquire AI Expense Management Firm Hyper | LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis
American Express said Thursday that it has struck an agreement to acquire Hypercard, known as Hyper, an artificial intelligence-driven expense management company, as the financial services giant accelerates its push to embed agentic technology across its commercial services business.
Founded in 2022, Hyper specialises in transforming expense management from a manual process into autonomous workflows.
Its AI agents are capable of auto-categorising and filing expenses, checking submissions against budget and policy, and sending reminders to employees ahead of deadlines.
The deal, expected to close within the second quarter of 2026, will bring Hyper’s team of AI specialists in-house to help American Express develop next-generation tools for its business customers.
The company also confirmed it plans to launch a new expense management platform later this year.
Raymond Joabar, Group President of Global Commercial Services at American Express, said AI had “the potential to transform the way businesses get things done” and described Hyper as a team with deep expertise in designing and deploying AI agents.
Marc Baghadjian, CEO and Co-Founder of Hyper, said the acquisition would allow the firm to continue its founding mission of automating expenses, now as part of the broader Amex organisation.
The two companies previously collaborated in 2024 to launch the Hypercard Rewards American Express card, which featured embedded AI-powered expense agents built on Amex’s Agile Partner Platform.
