What is Candex?
Launched in 2011 and headquartered in New York, NY, Candex operates as a master vendor platform designed to facilitate direct payments from enterprises to small suppliers. The company's innovative model streamlines the payment process, allowing businesses to engage directly with smaller vendors while Candex manages the remittance of funds. This approach is particularly beneficial for large organizations seeking to efficiently manage a diverse supplier base and ensure timely payments to smaller entities within their supply chain.
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 JPMorgan Chase, Altos Ventures, The NFX, and American Express Ventures
Series B (2023): $45M supported by Goldman Sachs Group
Series C (2025): $33M featuring Hedosophia, 9Yards Capital, Goldman Sachs, Edenred Benefits, Craft Ventures, and Alto Ventures
Key Investors in Candex
Goldman Sachs Group
Goldman Sachs is a leading global investment banking firm, providing a wide range of financial services including mergers and acquisitions advisory, underwriting, and asset management. Their involvement suggests a strong belief in Candex's scalability and market potential.
Hedosophia
Hedosophia is a UK-based investment management firm, indicating a strategic financial backing for Candex's growth initiatives and market expansion.
9Yards Capital
9Yards Capital is a growth stage technology investment firm focused on critical infrastructure for foundational industries, suggesting their investment aligns with Candex's role in streamlining enterprise supply chain payments.
What's next for Candex?
The recent major strategic investment signals a new phase of expansion for Candex. This capital infusion is likely to fuel further development of its master vendor platform, enhance its technological infrastructure, and broaden its market reach. With a focus on enterprise-level solutions, Candex is poised to strengthen its relationships with existing clients and attract new enterprise partners. The company's strategic direction will likely involve scaling its operations to accommodate a larger volume of transactions and potentially exploring new service offerings to further support its supplier and enterprise network.
See full Candex company page
