Edenred Capital Partners, has acquired a stake in the American start-up Candex, specializing in vendor monitoring and payments, as part of a $3.5 million global fundraising campaign. This investment intends to finance Candex's growth and enhance its solution. It will also allow Edenred to explore the entrepreneurial ecosystem in the area of corporate payments, in line with its open innovation strategy.
Candex is an online marketplace, facilitating interactions between companies and tail service vendors. The solution works like a B2C payment application; bringing the speed and ease of consumer payment apps to the corporate payment market: companies can engage with vendors through a chat interface, track their activities and performance, and pay them (transactions of up to $100,000) in just a few clicks. Blockchain technology is used to ensure compliance and massively streamline financial system records. Candex already connects thousands of companies to vendors in more than 50 countries.
Edenred Capital Partners broadens its scope of action
Created in 2012 to support innovative projects with high growth potential, Edenred Capital Partners is investing in new areas as Edenred continues its transformation.
Traditionally focused on players dedicated to well-being at work and food technology, the fund is currently supporting the diversification of the Edenred group's activities by opening up to fintech, fleet and mobility, and corporate payments. Edenred Capital Partners is also expanding geographically, with this first investment in the USA.