Folio

Folio is a financial operations platform for the hospitality industry, offering a procure-to-pay solution that connects hotels, suppliers and finance systems in a single place. Founded in 2023 by financial technologists with a decade of fintech experience, the company builds for the operational realities of hotels: its stated users include chefs, general managers and controllers, and its platform is intended to reduce the administrative load on them.

The product suite spans ordering, invoicing, payments, inventory and spend management. Buy provides ordering from approved vendors; Bills applies AI-powered invoice processing for hospitality finance teams and is reported to save them up to 40 hours weekly; Pay handles secure supplier payments with rebates; Inventory supports fast inventory counting with ERP syncing; and Expense offers corporate cards with guardrails. Technical work spans fintech, AI-powered invoice processing, procure-to-pay software, ERP integration, financial operations automation, payments technology and inventory management software.

The company reports serving hundreds of hotels and delivering double-digit cost savings alongside the time saved on invoice processing. Its verticals include hotels, food and beverage, and hotel finance and accounting. The platform has been described as award-winning.