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AvidXchange raises USD260m to support growth

AvidXchange, a provider of accounts payable and payment automation solutions for the middle market, has raised USD260 million in equity capital as part of the company's latest financing round. With contributions from TPG Sixth Street Partners and other investors, this brings total funding to more than USD800 million over the company's 20-year history. The new capital will fuel AvidXchange's continued growth and innovation, allowing the company to invest in its solutions for both buyers and suppliers while reaching more customers in the middle market. Financial Technology Partners LP and FTP Securities LLC served as the exclusive financial and strategic advisor to AvidXchange in this transaction.