AvidXchange sold in $2.2B deal with private equity firm

The deal will make AvidXchange a private company, with decisions made outside Charlotte

The following article appeared in the May 7, 2025, edition of The Charlotte Ledger, an e-newsletter with smart and original local news for Charlotte. We offer free and paid subscription plans. More info here.

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Homegrown Charlotte tech company AvidXchange to be sold in $2.2B deal with private equity and Fortune 1000 payments firm (from Atlanta)

AvidXchange’s headquarters north of uptown Charlotte. The company is being purchased and will become private once again. (Photo courtesy of AvidXchange)

AvidXchange, the homegrown Charlotte tech company widely viewed as one of the city’s most successful start-ups, announced Tuesday that it will be sold to a global private equity firm in a deal valued at $2.2B.

The deal means that AvidXchange, which went public in 2021, will become a private company, with decisions about its future made largely outside of Charlotte. San Francisco-based TPG will take a majority interest, and Atlanta-based corporate payments company Corpay will take a minority stake. It’s an all-cash transaction, with no financing needed.