What is Teampay?
Founded in 2016 and headquartered in New York, Teampay offers a robust purchasing software solution designed for technology-enabled businesses. Its platform facilitates real-time request, approval, and tracking of expenditures, streamlining financial operations for its clients. The company's focus on real-time visibility and control over spending positions it as a key player in the evolving landscape of corporate finance technology.
How much funding has Teampay raised?
Teampay has raised a total of $64.3M across 3 funding rounds:
Debt
$350K
Series A
$17M
Series B
$47M
Debt (2020): $350K with participation from PPP
Series A (2020): $17M led by Tribe Capital Growth Corp I, Precursor Ventures, Silicon Valley Bank, Fin Venture Capital, and Crosscut
Series B (2022): $47M supported by Espresso Capital, Mastercard, Trestle, Fin Venture Capital, and Proof Ventures
Key Investors in Teampay
Espresso Capital
Espresso Capital is a Canadian venture debt firm that provides various financing solutions including revenue financing and growth financing.
Mastercard
Mastercard is a global technology company in the payments industry, offering a wide range of payment solutions and services worldwide.
Fin Venture Capital
Fin Venture Capital is a global asset management firm specializing in full life cycle investing in B2B FinTech companies across the US, UK, and Europe.
What's next for Teampay?
With the recent influx of capital, Teampay is poised for accelerated growth and further development of its purchasing platform. The major strategic investment suggests a focus on expanding market reach, enhancing product capabilities, and potentially forging new partnerships. This funding will likely enable Teampay to solidify its position in the market and continue its trajectory of innovation in the fintech sector, addressing the critical needs of businesses seeking efficient spend management solutions.
See full Teampay company page
