Business
Candex Extends Series C to $40M+ with Strategic Investment from HSBC
Candex, a leading vendor-management and tail-spend-solutions provider for global enterprises, has extended its Series C funding to over $40 million with a strategic investment from HSBC. The investment supports Candex's long-term vision to turn high-volume, small-value supplier transactions into a fast, automated, and fully controlled part of enterprise finance. The raise brings the company's total funding to over $120 million and adds HSBC to Candex's investor base, which includes Goldman Sachs
About this update from American Express Company
[{"type":"text","content":"Funding accelerates Candex's vision to redefine how global enterprises manage high-volume, small-value transactions ","length":119,"tagName":"p","attribs":{}},{"type":"text","content":"NEW YORK, March 17, 2026 /PRNewswire/ -- Candex, a leading vendor-management and tail-spend-solutions provider for global enterprises, has extended its Series C funding to over $40 million with a strategic investment from HSBC. The investment supports Candex's long-term vision to turn high-volume, small-value supplier transactions into a fast, automated, and fully controlled part of enterprise finance. The raise brings the company's total funding to over $120 million and adds HSBC to Candex's investor base, which includes Goldman Sachs, Altos Ventures, 9Yards Capital, Hedosophia, NFX, Craft Ventures, World Innovation Labs, JPMorgan, and American Express.","length":674,"tagName":"p"},{"type":"image","alt":"Candex Logo","displaySize":"","headline":null,"caption":"Candex Logo","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":129,"url":"https://media.zenfs.com/en/prnewswire.com/7240e992a1074f9532fa8fcf2a81705f"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/MZhUgsazwl0YUY9FOTDWSg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTIyNztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/7240e992a1074f9532fa8fcf2a81705f","width":400,"height":129}},"href":"https://mma.prnewswire.com/media/2935005/Candex_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Managing and paying thousands of small vendors across multiple jurisdictions and currencies remains complex, time-consuming, risky and expensive. Candex solves this problem by serving as a tech-based master vendor, enabling enterprises to onboard and pay thousands of suppliers in a fast, easy and compliant manner.","length":315,"tagName":"p"},{"type":"text","content":""Fragmented supplier networks and rising regulatory demands have turned tail spend into a hidden source of risk, cost and inefficiency," said Jeremy Lappin, CEO of Candex. "Companies engage thousands of smaller vendors in several countries, each subject to different tax and compliance requirements. Managing those relationships with legacy systems creates friction and exposure. We're redefining how enterprises manage tail spend, bringing automation and contro...