CDPQ co-leads $300 mln growth financing of AvidXchange

Caisse de dépôt et placement du Québec (CDPQ) has made a US$100 million growth equity investment in AvidXchange, a Charlotte, North Carolina provider of accounts payable and payment automation solutions. The investment formed part of a US$300 million round with contributions from Mastercard, Temasek and Peter Thiel. CDPQ's Aviva Shneider said AvidXchange is "exactly the kind of financial technology company" the Canadian pension fund has been seeking to back. AvidXchange said the partnership with CDPQ will help it expand its product offering in new markets and serve new clients outside of the United States.

CanadaNorth AmericaBriefs