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AvidXchange
AvidXchange is an asset manager based in Charlotte, founded 2000; the Altss profile covers its classification, headquarters, registration, AUM band, and key...
AvidXchange
AvidXchange accounts payable automation software helps middle-market businesses and suppliers boost efficiency, accuracy and speed.
General information
Firm type
Asset Manager
Year founded
2000
Location
Region
North America
Country
United States
City
Charlotte
Corporate office
1210 AvidXchange Lane, Charlotte, NC, 28206, United States
Principals
Michael Praeger
Chief Executive Officer and Co-Founder
Dan Drees
President
Sector focus
Frequently asked questions
Who runs investment decisions at AvidXchange?
AvidXchange is not an investment firm — it is a publicly traded operating company that provides accounts-payable automation software and payment processing. Capital allocation and strategic acquisition decisions are led by CEO and Co-Founder Michael Praeger, alongside President Dan Drees and the board.
How does AvidXchange generate revenue?
The company generates revenue through a combination of software subscription fees for its AP-automation platform and transaction-based fees from payments processed across its AvidPay Network. Its acquisitions of FastPay, Core Associates, and BankTEL have extended this model deeper into vertical-specific ERPs.
What is AvidXchange’s known posture on co-investments alongside external GPs?
AvidXchange has not disclosed any co-investment activities alongside general partners. The firm operates as a technology company, not an asset allocator, and does not maintain a publicly known investment partnership or co-investment program.
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