NEW YORK, December 6, 2023 – Teampay, which provides an industry-leading all-in-one purchasing platform, today announced it has obtained additional investment from Espresso Capital and has appointed Dustin Renn as CEO. Renn previously served as CFO of the company. The company was recognized earlier this year as a "Mid-Market Purchasing Software Leader" by G2.
Espresso Capital is a technology-focused investment firm with current investments in approximately 60 technology companies across the United States, Canada, and United Kingdom and has completed investments in excess of $1 billion since 2009.
Renn brings more than 20 years of strategic finance and operating experience with deep expertise in payments, financial technology, and software at companies including Global Payments, Cardlytics, and Equifax.
Teampay simplifies the expense management process for businesses of all sizes. Finance teams get real-time visibility and control over company spend, while employees can buy what they need.
"This investment with Espresso Capital enables us to continue doing what we do best: helping employees easily make purchases while staying within budget and saving finance teams money and time," said Renn.
“We're excited to support the team as they expand an already best-in-class spend management solution and look forward to their continued growth in 2024,” said Will Hutchins, Managing Director at Espresso Capital.
About Teampay
Teampay’s award-winning platform helps larger SMBs and middle-market businesses across industries manage expenses. By streamlining the purchase process across virtual and physical cards, invoices, and reimbursements, Teampay makes company spend easy for employees and finance teams alike. To learn more about the company, see https://www.teampay.co. For inquiries, please contact press@teampay.co.
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