What is Extend?
Extend operates as a virtual credit card and spend management platform designed to empower businesses with enhanced control over their expenses. The company facilitates this by issuing secure, customizable virtual cards and automating critical financial workflows. This approach allows organizations to streamline procurement, manage employee spending effectively, and gain deeper insights into their financial operations, thereby optimizing cost management and operational efficiency.
How much funding has Extend raised?
Extend has raised a total of $54M across 3 funding rounds:
Angel/Seed
$3M
Series A
$11M
Series B
$40M
Angel/Seed (2018): $3M with participation from Reciprocal Ventures, Plug and Play Tech Center, Point72 Ventures, and WorldQuant
Series A (2019): $11M led by Reciprocal Ventures, FinTech Collective, Point72 Ventures, Plug and Play Tech Center, and City National Bank
Series B (2021): $40M supported by March Capital, Reciprocal Ventures, FinTech Collective, B Capital Group, Wells Fargo, Point72 Ventures, and Pacific Western Bank
Key Investors in Extend
March Capital
March Capital is a growth-stage venture firm that specializes in investing in enterprise technology companies with established product-market fit, aiming to scale them into mission-critical global platforms.
Reciprocal Ventures
Reciprocal Ventures partners with crypto founders from the very beginning, viewing investments as collaborative partnerships and focusing on those building the future of blockchain technology.
FinTech Collective
FinTech Collective is a venture capital firm that partners with visionary founders aiming to reshape financial markets through innovative technology and operational strategies.
What's next for Extend?
The substantial enterprise-level funding secured by Extend positions the company for accelerated expansion and product development. With a focus on scaling its operations and enhancing its technological capabilities, Extend is poised to further solidify its market position. The strategic investment will likely fuel initiatives aimed at broadening its customer base, deepening its integration with existing financial systems, and potentially exploring new verticals within the corporate finance technology landscape. This capital infusion suggests a strong investor confidence in Extend's business model and its potential to disrupt traditional spend management practices.
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