Edenred capital partners invests in Candex, an innovative corporate payment solution


The Edenred group, via its venture capital structure Edenred Capital Partners, has acquired a stake in the American start-up Candex, specializing in vendor monitoring and payments, as part of a $3.5 million global fundraising campaign. This investment intends to finance Candex's growth and enhance its solution. It will also allow Edenred to explore the entrepreneurial ecosystem in the area of corporate payments, in line with its open innovation strategy.


Candex is an online marketplace, facilitating interactions between companies and tail service vendors. The solution works like a B2C payment application; bringing the speed and ease of consumer payment apps to the corporate payment market: companies can engage with vendors through a chat interface, track their activities and performance, and pay them (transactions of up to $100,000) in just a few clicks. Blockchain technology is used to ensure compliance and massively streamline financial system records. Candex already connects thousands of companies to vendors in more than 50 countries.

Candex is the eleventh company supported by Edenred Capital Partners, after Andjaro, Beamery, LCCC (La Compagnie des Cartes Carburant), ProwebCE and Zenchef among others.  

Edenred Capital Partners broadens its scope of action

Created in 2012 to support innovative projects with high growth potential, Edenred Capital Partners is investing in new areas as Edenred continues its transformation.

Traditionally focused on players dedicated to well-being at work and food technology, the fund is currently supporting the diversification of the Edenred group's activities by opening up to fintech, fleet and mobility, and corporate payments. Edenred Capital Partners is also expanding geographically, with this first investment in the USA.

To learn more about Edenred Capital Partners: www.edenredcapitalpartners.com.

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Edenred is the world leader in transactional solutions for companies, employees and merchants, with business volume of more than €26 billion generated in 2017, of which 78% through digital formats. Whether delivered via mobile, online platform, card or paper voucher, all of these solutions mean increased purchasing power for employees, optimized expense management for companies and additional business for partner merchants.

Edenred's offer is built around three business lines:

  • Employee benefits (Ticket Restaurant®, Ticket Alimentación, Ticket Plus, Nutrisavings, etc.)
  • Fleet and mobility solutions (Ticket Log, Ticket Car, UTA, Empresarial, etc.)
  • Complementary solutions including Corporate payment (Edenred Corporate Payment), Incentive and rewards (Ticket Compliments, Ticket Kadéos) and Public social programs.

The Group brings together a unique network of 44 million employees, 770,000 companies and public institutions, and 1.5 million merchants.

Listed on the Euronext Paris stock exchange and part of the CAC Next 20 index, Edenred operates in 45 countries, with close to 8,000 employees.

 Follow Edenred on Twitter: www.twitter.com/Edenred

The logos and other trademarks mentioned and featured in this press release are registered trademarks of Edenred S.A., its subsidiaries or third parties. They may not be used for commercial purposes without prior written consent from their owners.

 

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CONTACTS 

 

Media Relations 

Anne-Sophie Sibout

+33 (0)1 74 31 86 11

anne-sophie.sibout @edenred.com

 

Anne-Sophie Sergent

+33 (0)1 74 31 86 27

anne-sophie.sergent@edenred.com

 

Matthieu Santalucia

+33 (0)1 74 31 87 42

matthieu.santalucia@edenred.com

Investor Relations 

Solène Zammito

+33 (0)1 74 31 88 68

solene.zammito@edenred.com

 

Loïc Da Silva

+33 (0)1 74 31 87 09

loic.dasilva@edenred.com