CDPQ invests in AvidXchange, increasing its presence in the FinTech industry

unknown

Today, Caisse de dépôt et placement du Québec (CDPQ) announced a USD 100 million growth equity investment in AvidXchange, a leading FinTech provider of accounts payable and payment automation for midsize companies. false false false In concert with a wider group of partners, CDPQ helped lead this round of financing, which will support AvidXchange as it seeks to increase its product offering and its presence across the industry. false false false Serving over 5,500 midsize businesses in North America, AvidXchange’s solutions enable clients to automate and streamline their B2B invoice and payment processes, increasing control over, visibility into, and better management of cash flow. false false false ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2016, it held $270.7 billion in net assets. As one of Canada's leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure and real estate. With over $30 billion of assets under management, CDPQ’s private equity team has significant expertise both as a direct investor in companies and as a partner in investment funds. From LBOs to growth equity in businesses in all sectors, CDPQ differentiates itself through its flexible and collaborative approach, worldwide network, and long-term investment horizon. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages. ABOUT AVIDXCHANGE AvidXchange revolutionizes the way companies pay their bills. Serving more than 5,500 clients throughout North America, AvidXchange is an industry leader in automating invoice and payment processes for midmarket companies spanning multiple industries including Real Estate, Financial Services, Energy, and Construction. AvidXchange has been recognized as one of the 50 fastest-growing private companies in the Charlotte area for four consecutive years, as well as ranked among Deloitte’s Fast 500 this past year. In the midst of record growth, AvidXchange has remained true to its most valued competitive advantage—its people. AvidXchange has been recognized as one of the Best Places to Work in Charlotte for eight consecutive years. For more information, contact us at 800.560.9305 or [email protected].