Extend, a spend and expense management platform, secured $20 million in additional capital, including new venture debt and an equity investment led by B Capital, with participation from March Capital, Point72 Ventures, FinTech Collective and new investor Commerce Ventures.
“This funding represents a pivotal moment for Extend as we accelerate our path to profitability and launch our paid SaaS offering,” Andrew Jamison, CEO of Extend, said. “With strong backing from B Capital and our investor group, we’re building a comprehensive spend and expense management platform while maintaining our focus on capital efficiency and deepening our relationships across the banking ecosystem.”
In addition to closing this funding round, Extend is also bolstering its leadership team with the addition of Francois Horikawa as chief financial officer. Previously head of finance for PayPal’s consumer business unit — which includes Venmo, P2P, cards and small business lending — Horikawa brings deep fintech expertise to help steer Extend toward operational excellence and sustainable profitability in its next phase of growth.
“Extend’s unique approach combines the familiarity of existing business credit cards with the power of modern software,” Allen Duan, general partner at B Capital, said. “Their expansion into expense management and disciplined approach to growth position them to become a category-defining platform in the space.”
“We’ve followed Extend’s journey for years and believe they’re at an inflection point,” Dan Rosen, founder and general partner at Commerce Ventures, said. “With deep bank integrations, a strong team and an exciting expansion into paid SaaS, Extend is positioned as a standout in the B2B payments ecosystem.”
