Money Briefs: AvidXchange raises $416m from investors

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.


A version of this article appeared in the print edition of The Straits Times on June 10, 2017, with the headline 'MoneyBriefs'. Print Edition | Subscribe