NEW YORK, July 28, 2026 (GLOBE NEWSWIRE) -- PEX, a leading corporate card and spend management platform, today announced it has secured $160 million in debt and equity financing led by Bluff Point Associates, a Westport, Connecticut-based private equity firm focused on growth companies in financial services and technology.
The financing follows sustained triple-digit growth in PEX's charge card business and continued expansion of its broader platform, powering more than $11.7 billion in spend since inception. PEX will use the capital to accelerate growth of its charge card program funded by a credit facility provided by Clear Haven Capital Management, and spend management platform, expand product innovation, and invest in sales, partnerships and strategic growth initiatives.
As businesses increasingly seek integrated solutions rather than fragmented financial tools, PEX is expanding its position as an all-in-one platform for payments, spend management, credit and financial automation. Unlike solutions that address only one aspect of financial operations, PEX combines these capabilities in a single platform designed to help growing businesses gain control, improve visibility and reduce operational complexity.
"We believe the future of business finance is integrated, intelligent and accessible to companies of every size," said Toffer Grant, CEO and Founder of PEX. "For too long, sophisticated financial tools were reserved for large enterprises. We're changing that by combining payments, credit, spend management and automation into a single platform that helps businesses operate with greater control and confidence. This investment allows us to accelerate our roadmap and continue building the financial infrastructure growing businesses need."
Several long-term trends are driving demand for modern financial infrastructure. Millions of small and midsize businesses are expected to transition ownership over the coming decade as the aging Baby Boomer generation fuels a "silver tsunami" of succession and exits. At the same time, finance leaders face increasing pressure to operate more efficiently, improve visibility and support growth with leaner teams. Buyers, operators and investors alike increasingly view modern financial systems as a critical component of business value and scalability.
PEX believes these shifts create a significant opportunity for businesses to move beyond legacy banking and card products toward software-driven financial operations. By combining corporate cards, spend management, credit and automation in a single platform, PEX enables finance teams to streamline workflows, strengthen controls and make better decisions in real time.
The company will continue investing in product innovation, including AI-powered capabilities that automate routine financial tasks, improve data accuracy and help finance teams focus on higher-value work. PEX will also expand its charge card offering, increase transaction capacity, and broaden access to the platform for businesses seeking a more modern approach to managing company spending.
"We look for businesses with strong customer retention, recurring revenue characteristics and clear competitive differentiation," said Tom McInerney of Bluff Point Associates. "PEX has demonstrated all three while building a platform that sits at the center of how businesses manage spending and payments. The company's growth, scale, and execution reflect the strength of both the product and the market opportunity. We believe PEX is exceptionally well positioned to benefit from the continued evolution of business finance."
About PEX
PEX is a corporate card and spend management platform that helps businesses control and track spending in real time. Through prepaid, charge, disburse and virtual cards backed by customizable spend controls, AI-powered receipt capture, and automated workflows, PEX gives owners and finance leaders the visibility and automation they need to reduce manual work, enforce policy, and run modern financial operations. To learn more, visit www.pexcard.com.
About Bluff Point Associates
Bluff Point Associates is a private equity firm based in Westport, Connecticut, that invests in growth-oriented, lower middle-market technology companies serving the financial services and healthcare industries. The firm partners with founders and management teams of companies with significant recurring revenue, strong customer retention, and durable growth. To learn more, visit www.bluffpt.com.
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