AvidXchange secured $300 million in financing with contributions from Caisse de dépôt et placement du Québec, Mastercard Inc., Temasek Holdings (Pvt) Ltd. and Peter Thiel.

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

Additionally, AvidXchange partnered with Mastercard to offer accounts payable and payment automation to small and midsize businesses. The Mastercard B2B Hub with AvidXchange will be delivered through card issuers as an end-to-end automated solution. AvidXchange will be the execution partner for Mastercard's launch of the hub in the U.S.

AvidXchange is a financial technology provider of accounts payable and payment automation for midsize companies.