The AvidXchange platform will allow Key’s clients to transform the invoicing to payment process by replacing a traditionally paper-based process with end-to-end digital functionalities. AvidXchange, recently completed a USD 225 million minority growth financing led by Bain Capital Ventures, with contributions from Foundry Group, NYCA Partners, KeyBank, Square 1 Bank, and TPG Special Situations Partners.
AvidXchange specializes in AP Automation for businesses. Automation eliminates paper by electronically capturing invoices, using business rules to route invoices for approval and storing all information electronically providing access to invoice status and history.
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