Why we invested in Candex

Across large enterprises, procurement teams manage thousands of suppliers every year - many of them small, infrequent, or one-off vendors that sit outside core procurement processes. While these suppliers may represent low individual spend, collectively they create significant operational burden, cost leakage, and compliance risk. This longstanding inefficiency is increasingly at odds with how modern finance and procurement functions are expected to operate. That is why we chose to invest in Candex.

Solving a hidden but material market problem

Most enterprise procurement systems are designed to handle large, strategic suppliers, leaving “tail spend” fragmented and difficult to manage. Onboarding small vendors involves lengthy approval cycles, manual due diligence, and payment workflows that are ill-suited to low-value purchases. As a result, businesses face delayed payments, limited visibility, and increased non-compliant purchasing.

Candex addresses this challenge by centralising tail-spend purchasing into a single, compliant workflow. Its platform enables enterprises to transact with thousands of suppliers without individually onboarding each one, while still maintaining control, auditability, and regulatory oversight. This approach reduces friction for employees, improves supplier experience, and gives finance teams greater transparency over spend.

A scalable platform at the intersection of procurement and payments

Candex operates at the convergence of procurement automation and regulated B2B payments, two areas undergoing digital transformation. Its model allows enterprises to simplify supplier engagement while integrating seamlessly with existing ERP and procure-to-pay systems. By acting as a consolidated vendor layer, Candex removes operational complexity without requiring organisations to overhaul their core systems.

The platform is designed to scale globally, supporting cross-border payments, tax compliance, and evolving governance requirements. As CFOs and procurement leaders place greater emphasis on efficiency, compliance, and oversight across all spend categories, Candex is well positioned to address a segment of the market that has historically been underserved.

Investing in a secure digital future

Our investment in Candex reflects our belief that the next phase of procurement transformation will focus on simplifying complexity not just for large suppliers, but across the full spend landscape. By modernising how enterprises manage tail spend, Candex enables more disciplined financial control, faster operations, and better decision-making.