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FT Partners Advises AvidXchange on its $300,000,000 Financing

Overview of Transaction

  • On June 8, 2017, AvidXchange announced a minority $300mm Series F financing round
  • Mastercard, CDPQ and Temasek co-led the equity round with participation from Peter Thiel
  • In addition to the equity investment, AvidXchange also announced a strategic partnership with Mastercard to deliver accounts payable and payment automation to midsize businesses; the offering will be marketed as The Mastercard B2B Hub powered by AvidXchange
  • AvidXchange is a best-in-class business-to-business payments company that is revolutionizing how companies pay their bills by automating the invoice and payment processes
  • The Company focuses on serving mid-market clients and spans multiple industries including Real Estate, Financial Services, Energy and Construction

Significance of Transaction

  • The transaction will further help AvidXchange expand as the leading independent business-to-business invoice and payment solution provider
  • Strategic relationship with Mastercard expected to fuel additional growth in driving forward Avid's existing bank channel
  • Firmly positions the Company to continue to grow the core business, invest in infrastructure and product development and pursue opportunistic acquisitions

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to AvidXchange and its Board of Directors
  • FT Partners leveraged its deep knowledge, extensive experience and broad industry relationships to help achieve a highly favorable outcome for the Company
  • Transaction demonstrates FT Partners' continued success advising $100mm+ financings