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FT Partners Advises AvidXchange on its $388 million Growth Financing

Overview of Transaction

  • On April 23, 2020, AvidXchange announced it has raised $128 million in additional equity financing in an oversubscribed round, which brings it to a total of $388 million, after raising $260 million in January of this year
  • Participating investors include a number of the foremost capital management firms, including new investors Neuberger Berman, on behalf of clients, Lone Pine Capital, and Schonfeld Strategic Advisors, along with existing investors
  • AvidXchange is a best-in-class business-to-business payments company that is revolutionizing how companies pay their bills by automating the invoice and payment processes for middle market companies
  • The Company focuses on serving mid-market clients and spans multiple industries including Real Estate, Financial Services, Home Owners Associations (HOA), Healthcare Facilities / Social Services, and Construction

Significance of Transaction

  • The new capital will fuel AvidXchange’s continued growth and innovation, allowing the Company to invest in its solutions for both buyers and suppliers while reaching more customers in the middle market
  • The transaction firmly positions the Company for its next phase of growth

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to AvidXchange
  • FT Partners has been AvidXchange’s advisor since 2009, working with the Company on multiple capital raises, as well as a number of acquisitions
  • Transaction underscores the long-term nature of many of FT Partners’ relationships, as well as our deep expertise in advising leading Financial Management Solution providers