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Funding Round Could Give AvidXchange $2B Valuation

PYMNTS

Investment bank Financial Technology Partners is advising AvidXchange on this fundraising round, according to sources. Founded in 2000 by CEO Michael Praeger, the Charlotte, North Carolina-based firm provides software that automates payments, invoicing and accounting for small and mid-sized businesses (SMBs).

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The 2023 GonzoBanker Awards

Gonzobanker

The specifics are unclear, but bankers recognized that this will be an absolute game-changing technology in future years, and delivery will change in ways we can’t even conjure yet. Another lesson that sometimes the most important assets in relationship banking can walk out the door.

Fintech 195
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37 Corporate Innovation Labs In Finance

CB Insights

However, the overall goal of the centers is to provide hubs for collaboration, finding solutions at “the leading edge of financial technology, powering investment success, and improving lives through investing.” Portfolio companies tend to fall within big data, open banking, security, and operational efficiency.