Business

Payment Avidxchange Nasdaq 4.9b 660m

Payment Avidxchange Nasdaq 4.9b 660m

AvidXchange, a leading fintech provider, recently increased its valuation to $4.9 billion following a funding round from SoftBank Vision Fund. This comes after the franchise dealt with Nasdaq Inc., which reportedly purchased an 11.7% stake in the company for $660 million.

AvidXchange was founded in the year 2000 and is based in Charlotte, North Carolina. They specialize in providing accounts payable and payment automation services to more than 6 million users across 10,000 global organizations. Reports suggest that the franchise was highly sought after by potential investors, with the SoftBank Vision Fund choosing to take the lead.

Nasdaq Investment

At present, the company has gained invaluable backing from five of the most highly influential venture capital firms: Hony Capital, Franklin Templeton, JMI Equity, Bain Capital, and Sageview Capital. Nasdaq’s involvement is the latest addition to their list.

Notably, this is the first time that Nasdaq has made such a sizeable investment into a franchise. They have proven their commitment by not only investing in AvidXchange, but also joining its board of directors. The fintech’s founders and Co-CEOs, Michael Praeger and Steve Bisang, have also commented on their delight at the association.

AvidXchange Valuation

Following the agreement with Nasdaq, AvidXchange has received an impressive increase in valuation. The company, which is estimated to have a revenue of more than $450 million, is now considered to be worth a total of $4.9 billion – a staggering figure for a business that’s only been in operation for 19 years.

Future Plans

AvidXchange has reported that their investment proceeds will be used to invest in its existing product-based business, create new product offerings, and expand internationally. In addition to this, the franchise is also keen on developing its presence in the blockchain space, an area they consider to be of high priority.

Conclusion

The Nasdaq investment in AvidXchange is a milestone move in the business’ 19-year history, and one that could significantly affect the future of fintech. The franchise itself is now worth more than any other US-based payment automation company in terms of valuation and could set an example for other small businesses hoping to garner the same success.

Related FAQs

Q1. What services does AvidXchange provide?

A. AvidXchange provides accounts payable and payment automation services to more than 6 million users across 10,000 global organizations.

Q2. How much is the AvidXchange valuation now?
A. AvidXchange is now considered to be worth a total of $4.9 billion.

Q3. Who is involved in the investment?
A. The investment is led by SoftBank Vision Fund and includes Hony Capital, Franklin Templeton, JMI Equity, Bain Capital, and Sageview Capital, alongside 11.7% from Nasdaq.

Q4. What is payment avidxchange nasdaq 4.9b 660m?
A. It is the term used to refer to the investment made by Nasdaq into AvidXchange—an 11.7% stake purchased for $660 million, resulting in an overall company valuation of $4.9 billion.

Q5. What is payment nasdaq 4.9b 660m?
A. This is the total value of the investment made by Nasdaq into AvidXchange—$660 million for an 11.7% stake, thus resulting in a company valuation of $4.9 billion.

Q6. About payment avidxchange 4.9b 660m.
A. This term is used to refer to the investment made by Nasdaq into AvidXchange—an 11.7% stake purchased for $660 million, resulting in an overall co

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