NEW YORK, March 22, 2018 /PRNewswire/ — aXpire, a leader in blockchain applications for spend management and fund administration announces today that it successfully raised $20 million in funding in a short 89 hours. CEO Gary Markham shares, “There is increasing demand for real time, immutable data, which blockchain software provides.”
aXpire’s vision is simple. Businesses waste money; aXpire helps reduce waste and improve profitability. In more detail, they enable seamless spend management, in real time, through secure blockchain technology and machine learning.
About The Raise
Going forward, aXpire will 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 highly secure SaaS model. This raise will help fuel that growth into new industries. aXpire will also explore the use of blockchain management through its P2P freelancing product, MatchBX.
aXpire’s core team consists of the prior LSG C-suite, with over 90 years of combined experience in the software-enabled payments space. The team also includes nine full-time developers with blockchain competency. Led by a team of seasoned insurtech experts and an advisory board including Bitcoin.com’s Roger Ver, aXpire is poised to help drive blockchain transformation in enterprises.
aXpire was founded by LSG, LLC, an insurtech SaaS company that has a history of working with Fortune 500 and “household name” clients such as Nike, Coca Cola and the NFL. The company was founded in January 2017 and is headquartered in Manhattan, New York, with employees in London, India, and Australia. Their object-oriented core technology was developed 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.