Teampay nabs $47m Series B

Fin Venture Capital led the round with participation from Mastercard, Proof Ventures, Trestle, and Espresso Capital.

  • This fundraising brings Teampay’s total tally to $65 million
  • As part of this latest funding round, Teampay will expand its partnership with Mastercard to accelerate its go-to-market strategy
  • The capital infusion will be used for growth, expansion, personnel hiring and product enhancement

New York City-based Teampay, a purchasing platform, has secured $47 million in Series B funding.

Fin Venture Capital led the round with participation from Mastercard, Proof Ventures, Trestle, and Espresso Capital.

This fundraising brings Teampay’s total tally to $65 million.

“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 in a statement. “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. They have been an industry pioneer from their inception, and continue to push the boundaries of their category in an innovative way.”

As part of this latest round of funding, Teampay will expand its partnership with Mastercard to accelerate its go-to-market strategy.

The capital infusion will be used for growth, expansion, personnel hiring and product enhancement.

Teampay was founded in 2016.