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AvidXchange raises $260M in funding round

AvidXchange Inc., which provides accounts payable and payment automation solutions, raised $260 million in equity capital during its latest financing round.

TPG Sixth Street Partners, an AvidXchange investor since 2015, and other leading investors contributed in the funding round.

The new capital will allow the Charlotte, N.C.-based company to invest in its solutions for buyers and suppliers while reaching more customers in the middle market.

Financial Technology Partners LP and FTP Securities LLC served as the exclusive financial and strategic adviser to AvidXchange in the transaction.