Fintech Fervor as CDPQ and Temasek Invest in AvidXchange

According to data from the Sovereign Wealth Fund Transaction Database (SWFTD), more public funds and sovereign funds have been pursuing direct investments into financial technology. The Singaporean sovereign funds have been active in the financial technology space. Singapore’s GIC Private Limited was a financial investor in San Francisco-based Square, a payments processor that has expanded into the payroll space.

Charlotte, North Carolina-based AvidXchange, which is a provider of accounts payables and payment automation for mid-sized companies inked a strategic partnership with Mastercard.

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