American payment automation company AvidXchange has raked in an additional USD 128 million in equity capital for accounts payable platform, reports Electronic Payments International.
This an extension of the USD 260 million funding round the company closed in January 2020.
The latest funding round was joined by Lone Pine Capital, Schonfeld Strategic Advisors, Pivot Investment Partners, Mastercard, Sixth Street Partners and Neuberger Berman on behalf of clients.
This marks Lone Pine Capital, Neuberger Berman and Schonfeld Strategic Advisors’ first investment in the payment automation company.
AvidXchange said that it will use the proceeds to conduct strategic growth initiatives and continued innovation.
AvidXchange focuses on automating invoice and payment processes.
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