Thiel-Backed Fintech AvidXchange Leaps to $2 Billion Valuation
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AvidXchange Inc., the software startup that helps businesses automate payments, leaped to a roughly $2 billion valuation with its latest round of fundraising in another sign of robust investor interest in maturing financial technology ventures.
The $260 million round was led by TPG Sixth Street Partners, according to a statement from AvidXchange, which already counted venture capitalist Peter Thiel and payments network Mastercard Inc. among its backers. The deal roughly doubled the company’s value to about $2 billion from the prior round in 2017, a person familiar with the matter said, asking not to be named discussing confidential terms.