Accounts payable software developer AvidXchange has raised up to $127m in a new funding round, according to a new US Securities and Exchange Commission filling.
The funding round has received contributions from 52 investors, but the document does not make it clear who these were.
A target for the vehicle was put at $127m, but it is not clear whether the company has closed the round or will look to raise more.
FTP Securities acted as a broker for the funding round.
AvidXchange only just closed a $260m funding round at the start of 2020 from TPG Sixth Street Partners along with other, unnamed backers. While it is unclear what the company was valued at for the round, a report prior to the close stated the FinTech was eyeing a round which would value it at $2bn.
Capital from the former round was said to be used for fuelling growth and innovation of AvidXchange, as well as investing into its technology capabilities.
The FinTech originally became a unicorn back in 2017, after it netted $300m at a $1.4bn valuation.
AvidXchange is a US-based accounts payable system which helps mid-market businesses automate invoice and payment processes. Servicing banking and real estate industries, clients can ease procurement, invoice, payments, supplier management and cash flow processes.
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