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Press release

Development 05 April 2018

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 
 

About

Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting more than 60 million users and more than 2 million partner merchants in 45 countries via close to 1 million corporate clients.

Edenred offers specific-purpose payment solutions for food (such as meal benefits), engagement (such as gift cards and engagement platforms), mobility (such as multi-energy solutions, including EV charging, maintenance, toll and parking) and corporate payments (such as virtual cards). 

True to the Group’s purpose, “Enrich connections. For good.”, these solutions enhance users’ well-being and purchasing power. They improve companies’ attractiveness and efficiency,and vitalize the employment market and the local economy. They also foster access to healthier food, more environmentally friendly products and sustainable mobility.

Edenred’s 12,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient and more responsible every day.

In 2023, thanks to its global technology assets, the Group managed €41 billion in business volume, primarily carried out via mobile applications, online platforms and cards.

Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC 40, CAC 40 ESG, CAC Large 60, Euronext 100, Euronext Tech Leaders, FTSE4Good and MSCI Europe.

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Matthieu SANTALUCIA

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