Candex, a NYC-based vendor management and tail spend solutions provider, raised $45M in Series B funding.
The round, which brought the total amount to $85M, was led by Growth Equity at Goldman Sachs Asset Management with new investor WiL (World Innovation Lab) who both joined existing investors Altos, NFX, Craft, JP Morgan, American Express and Edenred. Clare Greenan, of Goldman Sachs, will join Candex’s Board of Directors to advise on the company’s next stage of growth.
The company intends to use the funds to expand into new markets.
Led by CEO Jeremy Lappin and Shani Vaza, Candex is a provider of vendor management solutions, offering a platform that simplifies vendor management and payment across 42 countries. With its analytics and automation capabilities, the company helps businesses save time and money while improving their vendor relationships. Candex serves Sanofi, HSBC, Dell, Eaton, Roche, L’Oreal, Colgate and Danone, among others.
