aXpire, a NYC-based developer of blockchain applications for spend management and fund administration, raised $20m in funding in 89 hours.
Led by CEO Gary Markham, aXpire develops blockchain applications for spend management and fund administration. These apps aims to help businesses reduce waste and improve profitability, through secure blockchain technology and machine learning.
The company intends to use the funds to expand its spend management technologies across industries outside of asset management, e.g., natural resources, travel & leisure, healthcare, food & beverage, transportation, etc., removing human-manual processes in the expense management lifecycle through a secure SaaS model. aXpire will also explore the use of blockchain management through its P2P freelancing product, MatchBX.
Founded in January 2017 by insurtech SaaS company LSG, aXpire has developed an object-oriented core technology platform at the request of their first client – one of the largest hedge funds in the world ($24Bn+ AUM) to enable the real-time visualization and management of payment processing workflows across legal, fund accounting, administration, finance and compliance departments.
The company is headquartered in Manhattan, New York, with employees in London, India, and Australia.