[Funding alert] NYC-based Candex Secures $45M in Series B Round Funding

NYC-based Candex secures $45M in series B round funding. Growth Equity at Goldman Sachs Asset Management led the round, which raised the total to $85 million. New investor WiL (World Innovation Lab) joined previous investors Altos, NFX, Craft, JP Morgan, American Express, and Edenred.

Goldman Sachs’ Clare Greenan will join Candex’s board of directors to provide guidance on the company’s next stage of development. The money will be used by the business to enter new markets.

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Candex is a vendor management solutions provider with a platform that streamlines vendor administration and payment across 42 countries. It is led by CEO Jeremy Lappin and Shani Vaza.

The organisation helps companies strengthen their vendor connections while saving both money and time. Among its clients are Sanofi, HSBC, Dell, Eaton, Roche, L’Oreal, Colgate, and Danone.

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About Candex

Candex, big businesses may utilise their current P2P procedures to make purchases from low-risk, sporadic, and one-time suppliers. Candex is a fintech consolidator.

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Paying suppliers, even when doing so across borders and currencies, is made easy, quick, and compliant with Candex’s global operations that handle setup, support, tax, and regulatory complexities.