Candex was founded in 2011 by Jeremy Lappin and Shani Vaza with the mission to solve the tail spend problem faced by many organizations. Tail spend refers to the challenge of managing and controlling the numerous small purchases that occur outside of strategic procurement processes. Their technology effectively removes thousands of vendor records from financial systems, streamlining the engagement, tracking, and payment processes for service vendors.

The company’s platform acts as a master vendor, enabling businesses to engage, collaborate, and execute payments in a compliant manner without the need to set up each other’s financial systems separately. This creates significant efficiencies by eliminating the administrative burden and delays commonly associated with traditional vendor enablement, thereby accelerating the speed of business transactions.

Candex’s technology offers enhanced control, visibility, and tax compliance, providing buyers and sellers with a simplified, precise, and secure way to manage tail spend. It serves global enterprises and operates in over 50 countries, supporting compliant trade of goods and services across diverse geographies.

The company maintains multiple offices worldwide, including its headquarters in New York City, with additional offices in London, Singapore, and a research and development center in Ramat Gan, Israel. Candex has attracted investments from notable venture partners such as Partech, NFX, Camp One Ventures, and Edenred Capital Partners.

Their clientele includes major corporations like Dell EMC, Novartis, Sanofi, Pfizer, Medtronic, and L’Oreal, highlighting the platform’s applicability and trusted status in enterprise financial and procurement management.