AvidXchange: Closes Funding Round With $127M
- AvidXchange has raised $127M after a funding round, according to a U.S. Security and Exchange Commission filing
- The accounts payable FinTech pulled the funds from a total of 52 investors across 12 states, offering equity, options and security in exchange.
- The company raised $260M in January with contributions from TPG Sixth Street Partners and others
- Then the platform purports to offer invoice and payment automation, along with a supply chain platform, all on the same app
- Stanley said AvidXchange is a strong company due to its comprehensive services and the AvidPay Network
- Recently, the FinTech found that, during the coronavirus pandemic, many businesses lacked the capabilities to let people work from home
