AvidXchange raises $416m from investors
SAN FRANCISCO • AvidXchange, a software company that helps mid-sized companies automate their invoicing and bill payments, said it raised US$300 million (S$416 million) from investors, including Temasek Holdings.
Mastercard, Silicon Valley investor Peter Thiel and Canada's second-largest public pension fund Caisse de Depot et Placement du Quebec are also investing.
AvidXchange also announced a partnership with Mastercard to help reach a market of small and medium-sized businesses still using manual processes to pay their bills.
China's PPI cools as commodity prices ease
BEIJING • China's producer price gains moderated, following further easing in commodity prices, signalling weaker overall inflation pressure in the pipeline.
The producer price index (PPI) rose 5.5 per cent last month from a year earlier, slower than the 6.4 per cent increase in April. The consumer price index climbed 1.5 per cent, versus a prior gain of 1.2 per cent, the statistics bureau said yesterday.
Resurgent factory inflation since last year has moderated in China, in step with the faltering global commodity rally.