Candex
Vendor-of-record payments platform for enterprise tail spend
Fintech
📍 New York, NY
Founded 2018
Current Valuation
Private
PRIVATE
Candex acts as a single master vendor that large enterprises can use to engage and pay the 70-80% of suppliers who account for only 3-5% of total spend — a long tail where onboarding cost typically exceeds invoice value. By taking on KYC, compliance, and cross-border payment rails on behalf of buyers, Candex eliminates the 'No PO, No Pay' friction that frustrates ad-hoc and one-time vendor relationships. The company raised a $45M Series C led by JP Morgan in early 2024.
Company Profile
Growth
Series C growth-stage
Last Round
Series C — $45M (Jan 2024) · Lead: JP Morgan
Founders & Key People
Igor ItskovichBrian Greenberg
Investors
JP Morgan · American Express Ventures · Goldman Sachs · Altos Ventures · Craft Ventures
Products
- Master vendor service
- Tail-spend management
- Cross-border B2B payments
- Compliance and KYC
- Procurement integrations
Competitors
Tipalti · Coupa · Stampli · Bill.com
B2B PaymentsFintechProcurementEnterprise
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of recent date. Refreshed quarterly.