Teampay will leverage its funding to further propel its enterprise offering, by deepening its accounts payable solution, expanding cross-border payments functionality, and satisfying international payment requirements. Since launching in 2017, Teampay has focused on serving high-growth companies, and is scaling at pace with its customers’ evolving and increasingly global needs. “Teampay’s dynamic approach to enhancing the purchasing process for corporate customers continues to excite us, and we look forward to accelerating this stage of growth with our integrated products, services, and capabilities." “Innovation is core to Mastercard’s business – it allows us to expand beyond the horizon and turn great ideas into scalable solutions,” said Sherri Haymond, executive vice president, Digital Partnerships at Mastercard. With this deeper collaboration, Mastercard and Teampay will mutually explore opportunities to enhance product capabilities at scale. The card combines the innovative technology of Teampay’s platform with Mastercard’s industry-leading capabilities, providing a premium commercial card experience for executives. In 2021, the company announced Catalyst by Teampay, a digital corporate card powered by the Mastercard network. They have been an industry pioneer from their inception, and continue to push the boundaries of their category in an innovative way.”Īs part of this latest round of funding, Teampay will expand its partnership with Mastercard to accelerate its go-to-market strategy. “Teampay continues to innovate the Office of the CFO tech stack far beyond existing legacy approaches, giving CFOs unparalleled visibility and control of corporate spend. “As corporate finance departments continue to modernize their processes to better reflect the way work gets done today, we see considerable opportunity in the growing spend management space,” said Peter Ackerson of Fin Venture Capital. New investors Mastercard, Proof Ventures, Trestle, and Espresso Capital supported the oversubscribed round, bringing Teampay’s total funding to $65M.
NEW YORK-( BUSINESS WIRE)- Teampay, the all-in-one-purchasing platform, today announced it raised $47 million in Series B funding led by existing investor Fin Venture Capital.
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