PEX Raises $160M Growth Capital

PEX, a New York-based fintech company specializing in business expense management and automation software, has secured $160 million in a combined debt and equity financing round. The capital will support the expansion of the company's platform, which combines corporate spend software with charge card programs.

Investors

The funding round was led by Bluff Point Associates. The credit facility portion of the financing was provided by Clear Haven Capital Management.

PEX Use of Funds

PEX intends to use the $160 million to scale its charge card program and invest in back-office automation suite features. Specifically, the capital is earmarked for the development of artificial intelligence capabilities designed to automate accounting workflows such as receipt matching, expense coding, and account reconciliation. The company also plans to expand its sales workforce to focus on small and medium-sized businesses currently reliant on manual accounting processes.

About PEX

Founded in 2006 by CEO Toffer Grant, PEX provides an integrated platform for payments, credit, spend management, and accounting automation. The company helps businesses digitize their financial reporting and back-office systems, having enabled over $11.7 billion in business spending since its inception.

Funding Details

Company Website: https://pexcard.com

Company: PEX
Raised: $160M
Round: Growth Capital
Funding Date: July 30, 2026
Lead Investor: Bluff Point Associates
Additional Investors: Clear Haven Capital Management
Software Category: FinTech
Source: https://www.fintechfutures.com/venture-capital-funding/pex-secures-160m-in-debt-and-equity-financing