Payment and expense provider Center has raised $30 million in its latest funding round, which the company said would be used for innovation and broadening distribution.
The funding round, led by Top Tier Capital as well as reinvestment from Durable Capital Partners, brings Center’s total funding to more than $140 million. It follows Center’s October launch of an integrated travel and expense offering, built on Spotnana infrastructure.
One of Center’s planned innovations is to create “open platform” with client libraries and APIs with which card and expense management features can be embedded into existing workflows, according to Center.
“Opening up our platform and creating an ecosystem that can be deeply integrated, customized and embedded natively inside of existing web and mobile applications provides value for the corporate customer, developer partners and financial institutions alike,” Center CEO Naveen Singh said in a statement. “We see a fully integrated approach as the next frontier of innovation for expense management.”
Center said as of the end of November 2023 it has seen customer growth of 64 percent year over year.
