PEX secures $160m to scale payments, credit and finance automation platform
What's happening
PEX, a corporate card and spend management platform, has secured $160 million in combined debt and equity financing led by Bluff Point Associates. The company says the funding will support product innovation, expand its charge card offering and increase transaction capacity, and broaden access to its platform. PEX, founded 20 years ago, intends to use the capital to help small businesses modernize finances and scale its corporate card and finance software business; some of the credit will be drawn by customers of its charge card program.
Why it's trending
Fundraising targets product and capacity expansion as demand for modern spend and transition-ready finance tools rises now.
SignalNewly emerging, confirmed across 1 independent source type.
Story volume
Stories per dayAngles you could write
Why PEX's $160 million raise proves software-first card companies still need old-school lending muscle, and that's fine for growth-focused finance teams.
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Original sources4
- Pex aims to expand card biz
The spend-management firm raised money from investors to grow its corporate card and finance software business.
Payments DiveJul 29 - PEX lands $160m to save businesses from the Silver Tsunami
PEX, a corporate card and spend management platform founded 20 years ago, has secured $160m in debt and equity financing to help small businesses modernise their finances ahead of a looming wave of ownership transitions. The round was led by Bluff Point Associates, with the credit drawn by customers of the company’s charge card programme […] The post PEX lands $160m to save businesses
FinTech Global WealthTechJul 29 - PEX Raises $160 Million to Expand Spend Management Platform
Corporate card/spend management platform PEX has raised $160 million in new funding. The debt and equity financing will help support product innovation and allow PEX to expand its charge card offering, increase transaction capacity, and widen access to its platform, the company said in a Tuesday (July 28) news release. “We believe the future of business finance is […] The post PEX Raises $16
PYMNTSJul 28 - PEX secures $160m to scale payments, credit and finance automation platform
Corporate card and spend management platform PEX has secured $160 million in debt and equity financing led by Bluff Point Associates.
FinextraJul 28
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