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.

Candex, co-founded by Jeremy Lappin (CEO) and Shani Vaza (Chief R&D Officer), is a technology-based master vendor that makes it easy for global enterprises to engage, track, and pay small and one-time vendors. Candex delivers a fast, efficient and compliant buying process for requisitioners while providing administrators with automation, visibility and control, reducing the vendor master by as much as 80%. The Candex reporting style consolidates all tail vendor information in one place, thereby bringing in transparency in the organization. This brings harmony, simplicity and consistency to a part of the supply chain that until yesterday was a major pain point and operational challenge. Trusted by the Global 2000, Candex is a leader in tail-spend management and a truly global solution available with local coverage in 50+ countries.