Pex
PEX is a New York-based fintech company that provides a workforce spending and expense management platform built around prepaid and credit cards for businesses and nonprofits. Founded in 2006 by Toffer Grant, PEX offers virtual and physical cards, spend controls, bill pay, grant disbursement, receipt management, reporting, and an API. Its proprietary payments stack and bank integrations let organizations issue and manage cards with real-time visibility. PEX cards are issued by Fifth Third Bank and The Bancorp Bank under a Visa license. The company reports serving over 10,000 organizations and issuing more than 10 million cards.
Acquired
Pex has been acquired
This company is no longer available on our private secondary market.
Overview
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2006
Employees
51–200
Total Funding
$9M
2 rounds
Funding
Total raised $9M across 2 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 06-11-2026
Latest Round
Type
Series B
Date
February 16, 2021
Amount
$57M
Valuation
—
Lead Investors
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| February 16, 2021 | Series B | $57M | — | Tencent |
| October 10, 2017 | Series A | $7M | — |
Prominent Investors
Leadership
Toffer Grant
Chief Executive Officer & Founder
Paul Hirschorn
Chief Information Officer
Stanley Yung
Chief Operating Officer
Luke Pritchett
Chief Financial Officer
Alex Najem
Chief Technology Officer
Katie Foos
Chief Revenue Officer
Competitors
Competitor list is illustrative and may be incomplete, stale, or erroneous.
Vobile
Hong Kong-listed copyright protection and content monetization company; acquired Pex in April 2025.
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ACRCloud
Audio fingerprinting and recognition platform for music identification and broadcast monitoring.
BMAT
Music identification and royalty tracking technology serving CMOs, broadcasters, and DSPs.
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