PayEm, a San Francisco, CA-based platform for spend and procurement management, raised $220m in equity and credit financing.
Backers included Viola Credit, Mitsubishi Financial Group, Collaborative Fund.
The company, which has raised $247m in credit and equity since its launch in January 2020, intends to use the funds to accelerate its growth.
Led by Itamar Jobani, CEO, PayEm is an enterprise integrated spend management and procurement platform that automates the entire Request to Reconciliation process for finance and procurement teams for the mid-market. It offers smart procurement solutions, AP automation, expanse reimbursement and smart credit cards. The company currently supports customers around the world from its offices in San Francisco and Tel Aviv.
PayEm has also announced three major additions to its leadership team. Steve Sovik has joined as Chief Revenue Officer, Dorit Bruner, joins as CFO, and Gilad Bonjack joins as VP Product.