Candex Secures $33M Series C to Accelerate Growth and Global Reach

Led by 9Yards Capital with participation from Hedosophia, Goldman Sachs, Altos Ventures, Craft Ventures, and other existing investors.

Miami, July 7, 2025 - Candex, a leading vendor management and tail spend solutions provider for global enterprises, has raised $33 million in a Series C funding. The round was led by 9Yards Capital, with participation from Hedosophia and existing investors including Goldman Sachs, Altos Ventures, Craft Ventures, NFX, and Edenred. This brings Candex’s total funding to over $115 million.

This investment, done at a significant valuation increase, signals strong confidence in Candex’s rapid growth, proven product-market fit, and rising global demand for scalable, compliant procurement solutions. Trusted by more than 140 enterprise customers—nearly double the customer base since Candex’s 2023 Series B—Candex expects to support over $1 billion in spend this year. The new capital will fuel continued global expansion, product innovation, and customer growth.

“We’re grateful for the trust and support our new and long-time investors have placed in us,” said Jeremy Lappin, CEO and Co-founder of Candex. “Every large enterprise knows the frustration of managing thousands of small but critical suppliers. This funding lets us tackle that challenge at an even bigger scale, so our customers can stay compliant, move faster, and focus on what really drives their businesses forward.”

This investment comes from 9Yards Capital, which is a growth-stage fund with over $1B+ in AUM, dedicated to backing high-potential companies transforming foundational industries like procurement, fintech, and enterprise software.

“At 9Yards, we back foundational software companies with N-of-1 potential,” said Hunter McNabb, General Partner at 9Yards Capital. “We were drawn to Candex’s ability to solve one of procurement’s most persistent challenges at scale. This funding supports their continued product leadership, acceleration into new markets, and commitment to operational excellence.”

About Candex

Candex is a technology-based master vendor that makes it easy to engage, track, and pay small and one time vendors. It is a fast, efficient and compliant buying process for requisitioners while administrators get automation, visibility, control and a reduction in the vendor master by as much as 80%. The Candex reporting style consolidates all tail vendor information in one place, thereby bringing in transparency in the organisation. This brings harmony, simplicity and consistency to a part of the supply chain that until yesterday was a major pain point and operational challenge. Trusted by the Global 2000, Candex is a leader in tail-spend management and a truly global solution available with local coverage in 40+ countries.

Media Contact 1:

Name: Nupur Gadkari

Email: nupur@candex.com

Phone: + 44 750 7712238

Media Contact 2:

Name: Zac Schroepfer

Email: zac@candex.com

Phone: + 1 850-933-6733

Jeremy Lappin, CEO and Co-founder of Candex.