What is Candex?
Founded in 2011 and headquartered in New York, Candex operates as a sophisticated master vendor platform designed to solve the friction inherent in enterprise-to-small-supplier payments. The company provides a seamless interface that allows large enterprises to consolidate their vendor payments, effectively offloading the administrative burden of onboarding and remitting funds to a vast network of smaller suppliers. By acting as a financial intermediary, Candex ensures compliance, reduces operational overhead, and accelerates the payment cycle, positioning itself as an essential utility in the modern digital procurement stack. Its market position is reinforced by its ability to integrate with existing ERP systems, making it a preferred partner for organizations seeking to optimize their accounts payable processes.
How much funding has Candex raised?
Candex has raised a total of $98.2M across 4 funding rounds:
Debt
$150K
Series A
$20M
Series B
$45M
Series C
$33M
Debt (2020): $150K with participation from PPP
Series A (2021): $20M led by American Express Ventures, JPMorgan Chase, Altos Ventures, and The NFX
Series B (2023): $45M supported by Goldman Sachs
Series C (2025): $33M featuring Craft Ventures, Hedosophia, Edenred Benefits, 9Yards Capital, Goldman Sachs, and Alto Ventures
Key Investors in Candex
Craft Ventures
Craft Ventures is a venture firm focused on building great companies, particularly in the B2B technology sector, providing valuable insights and access to senior talent for scaling businesses.
Hedosophia
Hedosophia Services Limited is a UK-based firm operating in the financial services sector, focusing on investment management through its specialized funds.
Edenred Benefits
Edenred Benefits is an international digital platform and payment services company specializing in non-traditional benefit solutions and automated claims processing.
What's next for Candex?
With the successful closure of this major strategic investment, Candex is well-positioned to scale its platform capabilities and expand its footprint within the global enterprise market. The company is expected to leverage this capital to enhance its automated payment infrastructure, deepen its integration with major HR and procurement software suites, and potentially explore new geographic markets. As the demand for efficient, transparent, and compliant B2B payment solutions continues to rise, Candex's focus on reducing the complexity of vendor management will likely remain a key driver of its long-term value proposition. The firm's ability to maintain strong relationships with institutional investors suggests a clear path toward sustained market leadership and continued innovation in the fintech space.
See full Candex company page
