What is Teampay?
Teampay is a specialized purchasing software platform engineered for modern, technology-enabled businesses. Founded in 2016 and headquartered in New York, the company provides a comprehensive suite of tools that allow organizations to request, approve, and track expenditures in real-time. By integrating directly into the corporate finance workflow, Teampay eliminates the friction typically associated with traditional procurement processes, offering granular visibility and control over company-wide spending. Its market position is defined by its ability to bridge the gap between operational agility and financial governance, making it an essential utility for scaling enterprises that require real-time data to inform their fiscal decision-making.
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, Fin Venture Capital, Silicon Valley Bank, and Crosscut
Series B (2022): $47M supported by Mastercard, Fin Venture Capital, Trestle, Espresso Capital, and Proof Ventures
Key Investors in Teampay
Mastercard
Mastercard is a global technology leader in the payments industry, providing a multi-rail network that facilitates secure electronic transactions for businesses, governments, and financial institutions worldwide.
Fin Venture Capital
Fin Venture Capital is a global asset management firm specializing in full life cycle investing for B2B FinTech companies, with a specific focus on the CFO tech stack and embedded finance.
Silicon Valley Bank
Silicon Valley Bank provides specialized commercial and private banking services, asset management, and investment solutions tailored to the unique needs of the innovation economy.
What's next for Teampay?
With the successful closure of its latest funding round, Teampay is well-positioned to accelerate its product roadmap and expand its footprint in the competitive B2B FinTech landscape. The strategic focus will likely center on deepening its integration capabilities within the CFO tech stack, enhancing its automated compliance features, and scaling its enterprise-grade infrastructure to support larger, more complex organizational structures. As the company matures, the emphasis will shift toward leveraging its proprietary data to offer predictive insights into corporate spending patterns, further cementing its role as a foundational layer in the digital transformation of corporate finance. The continued support from major industry players suggests a long-term commitment to establishing Teampay as the standard for distributed purchasing and expenditure management.
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