HSBC invests in enterprise payments firm Candex

ChainWatcher · 2026-03-18T00:12:53+00:00

Candex raises over $40 million in its Series C round, attracting investment from HSBC and other major firms. It addresses the challenges of managing numerous small vendors by automating compliance and payments across various jurisdictions, enhancing efficiency and control in tail spend management.

ChainWatcher

2026-03-18 00:12:53

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The strategic investment extends Candex’s Series C round to over $40 million and sees HSBC join the likes of Goldman Sachs, JPMorgan and American Express in backing the firm.

Managing and paying thousands of small vendors across multiple jurisdictions and currencies remains complex, time-consuming, risky and expensive.

Candex promises to solve this problem by serving as a tech-based master vendor, enabling enterprises to onboard and pay thousands of suppliers in a fast, easy and compliant manner.

Operating in more than 50 countries, Candex automates compliance and pays suppliers in their local markets, reducing the risks associated with tail spend management. In 2025, it supported well over a billion USD in payments to vendors through its platform.

Jeremy Lappin, CEO, Candex, says: "Fragmented supplier networks and rising regulatory demands have turned tail spend into a hidden source of risk, cost and inefficiency. Companies engage thousands of smaller vendors in several countries, each subject to different tax and compliance requirements.

“Managing those relationships with legacy systems creates friction and exposure. We’re redefining how enterprises manage tail spend, bringing automation and control to a category long considered too complex and costly to optimize.”

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