Candex Secures $33M in Series C Funding to Revolutionize Global Supplier Payments and Achieve Procurement Zen

Candex is delighted to announce a successful funding round, raising USD 33,000,000 to further accelerate its mission of redefining procurement for large organizations. Specializing as a fintech master-vendor, Candex empowers enterprises to efficiently make purchases from one-time, irregular, and low-risk suppliers, all while leveraging existing Procure-to-Pay processes. With this fresh infusion of capital, the company is well-positioned to enhance its innovative solutions that seamlessly manage supplier setup, support, tax, and regulatory complexities across borders and across varying currencies. By integrating effortlessly into existing e-procurement systems, supporting bulk uploads, and offering robust API integrations into any workflow, Candex elevates efficiency and compliance to unprecedented levels. The strategic funding will focus on expanding the company’s global infrastructure, further streamlining the payment process for the 70-80% of vendors typically receiving 3-5% of spend, and ensuring that the oft-coveted "No PO, No Pay" compliance becomes a tangible reality for clients worldwide. With its deep expertise in regulatory and tax nuances, Candex guarantees that transactions remain swift, compliant, and efficient, fostering a sense of procurement zen for its growing client base. This latest funding milestone not only reinforces market confidence in Candex's innovative approach but also underscores its commitment to transforming erratic and cumbersome procurement challenges into agile and reliable transactions. As Candex continues to scale its operations globally, the fresh capital will serve as a catalyst for deploying additional technological enhancements, refining customer experiences, and maintaining its competitive edge in the fintech space.