PEX has secured USD 160 million in debt and equity financing led by Bluff Point Associates to expand its payments, credit, and spend management platform.
The round was led by Bluff Point Associates, a US-based private equity firm focused on financial services and technology companies. The financing follows a period of triple-digit growth in PEX's charge card business and continued expansion of its broader platform, which has processed more than USD 11.7 billion in spend since the company's inception.
Use of proceeds
According to the company, the new capital will be used to accelerate growth of its charge card programme, which is funded through a credit facility provided by Clear Haven Capital Management, alongside its wider spend management platform. In addition, PEX also plans to direct funds towards product development, sales, partnerships, and other go-to-market initiatives. The financing round combines both debt and equity components, reflecting a structure increasingly used by fintech companies seeking to fund receivables-linked products such as charge cards while also investing in platform development.
PEX positions itself as an integrated platform combining payments, spend management, credit, and financial automation, in contrast to providers addressing only a single aspect of financial operations. The company said this approach is intended to help growing businesses consolidate financial tools, improve visibility over spending, and reduce operational complexity that can arise from using multiple disconnected systems.
Toffer Grant, CEO and Founder of PEX, said the business aims to make integrated financial tools accessible to companies beyond large enterprises, noting that the investment would support continued development of its product roadmap.
PEX pointed to several structural trends supporting demand for this type of infrastructure. These include an expected wave of ownership transitions among small and midsize businesses over the coming decade, linked to the ageing Baby Boomer generation, as well as ongoing pressure on finance leaders to operate with leaner teams while maintaining efficiency and visibility. The company also noted that buyers, operators, and investors are placing greater weight on the strength of financial systems when assessing business value and scalability.
Product roadmap
Looking ahead, PEX said it intends to continue investing in product development, including capabilities aimed at automating routine financial tasks and improving data accuracy. The company also plans to expand its charge card offering and increase transaction capacity as it broadens platform access for businesses moving away from traditional banking and card products towards software-based financial operations.
Tom McInerney of Bluff Point Associates said the firm's investment criteria include customer retention, recurring revenue characteristics, and competitive differentiation, citing PEX's growth and market position as factors supporting the decision to lead the round.
