Extend, a spend and expense management platform, announced it has 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 a new investor, Commerce Ventures.

Extend, according to the company, empowers businesses with time-saving expense workflows and cost-saving spend controls — without requiring companies to change their existing bank card programs. Through its partnerships with leading banks, said the announcement, Extend enables businesses to seamlessly create virtual cards for vendor payments and employee purchases. The company is now incorporating tools to manage approvals, capture receipts and reconcile expenses with greater transparency and automation.

Andrew Jamison, CEO, said the funding “represents a pivotal moment for Extend as we accelerate our path to profitability and launch our paid SaaS offering.” With strong backing from B Capital and the investor group, he said, “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.”

Extend also announced the naming of Francois Horikawa as CFO. He was previously head of finance for PayPal’s consumer business unit — which includes Venmo, P2P, Cards and Small Business Lending.