Candex, a New York–based provider of vendor management and tail-spend solutions for global enterprises, has extended its Series C funding round to more than $40 million, with a strategic investment from HSBC.
Investors
The strategic investment from HSBC brings Candex’s total funding to over $120 million.
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. The firm serves customers worldwide across 56 countries and territories. With assets of $3.23 trillion as of December 31, 2025, HSBC is one of the world’s largest banking and financial services organizations.
Candex Use of Funds
The company will use the funds to expand global infrastructure, strengthen its presence in Asia, and enhance platform capabilities for managing complex supplier transactions.
About Candex
Founded by Jeremy Lappin and Shani Vaza, Candex is a vendor management and tail-spend automation platform that helps global enterprises streamline high-volume, low-value supplier transactions. The platform simplifies supplier onboarding, compliance, and payments across multiple jurisdictions and currencies. Operating in more than 50 countries, Candex automates compliance and facilitates payments to suppliers in their local markets, improving efficiency and reducing risks associated with tail-spend management. Candex’s platform is trusted by hundreds of multinational organizations, including Diageo, Danone, Roche, and Sanofi.
Funding Details
Company: Candex
Raised: $40.0M+
Round: Series C (Extension)
Funding Date: March 2026
Investor: HSBC
Company Website: https://www.candex.com/
Software Category: Vendor Management and Tail Spend Automation Platform
Source: https://www.prnewswire.com/news-releases/candex-extends-series-c-to-40m-with-strategic-investment-from-hsbc-302715587.html