American Express has agreed to acquire Hyper, an AI-focused expense management startup backed by OpenAI, as it looks to integrate automation capabilities across its commercial services business. Financial terms of the agreement, which is expected to close in the second quarter of 2026, were not disclosed.
The New York City-based startup develops agent-based tools designed to automate expense workflows, including categorizing transactions, enforcing policy compliance, and prompting users to submit reports. The acquisition brings both technology and talent, with Hyper’s team expected to contribute to new AI-powered features within American Express products.
American Express said the acquisition builds on an earlier collaboration between the companies, including a co-developed card product with embedded AI expense capabilities. More broadly, the move signals increased investment by the financial giant in AI to streamline business operations for its commercial customers.
“Our customers want smarter, more efficient ways to manage expenses so they can focus on what’s next for their business, and AI has the potential to transform the way businesses get things done,” said Raymond Joabar, group president of global commercial services at American Express.
Hyper, founded in 2022, has positioned its platform around autonomous workflows rather than traditional expense tracking. The acquisition suggests continued interest in agent-based systems that can execute tasks with minimal user intervention.