Payments Startup Candex Raises $3.5 Million

Candex Technologies Ltd. announced on Friday it raised $3.5 million in seed round from London-based Edenred Capital Partners, Partech Ventures, Advisors.Fund, Camp One Ventures, NFX, Tekton Ventures, Big Sur Ventures, and from fintech investor Mark Goines.

Founded in 2010 by CEO Jeremy Lappin and vice president of research and development Shani Vaza-Wahrmann, Candex is based in the greater Tel Aviv metropolitan area with additional offices in San Francisco and London. The company provides businesses and large organizations with blockchain-based tracking and payment services for gigs and services under $100,000, supporting payments in more than 50 countries. Candex charges a percentage of each payment it processes.

Payments (illustration). Photo: Shutterstock

“Candex brings the speed and ease of consumer payment apps to large businesses, leveraging a private blockchain to ensure compliance and massively streamline financial system records,” Candex co-founder and CEO Jeremy Lappin said in a statement.