The company has already tripled headcount in the last 12 months. The funding will also allow Teampay to advance its go-to-market strategy with additional investments in sales and marketing, and continue to grow its workforce to support its larger account needs. Teampay will leverage its funding to further propel its enterprise offering, by deepening its accounts payable solution, expanding cross-border payments functionality, and satisfying international payment requirements. Since launching in 2017, Teampay has focused on serving high-growth companies, and is scaling at pace with its customers’ evolving and increasingly global needs. “Teampay’s dynamic approach to enhancing the purchasing process for corporate customers continues to excite us, and we look forward to accelerating this stage of growth with our integrated products, services, and capabilities.” “Innovation is core to Mastercard’s business – it allows us to expand beyond the horizon and turn great ideas into scalable solutions,” said Sherri Haymond, executive vice president, Digital Partnerships at Mastercard. With this deeper collaboration, Mastercard and Teampay will mutually explore opportunities to enhance product capabilities at scale. The card combines the innovative technology of Teampay’s platform with Mastercard’s industry-leading capabilities, providing a premium commercial card experience for executives. In 2021, the company announced Catalyst by Teampay, a digital corporate card powered by the Mastercard network. As part of this latest round of funding, Teampay will expand its partnership with Mastercard to accelerate its go-to-market strategy.

Teampayu