Wex

Wex

B2B services for benefits and payments

About Wex

Simplify's Rating
Why Wex is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Differentiation

Industries

Automotive & Transportation

Financial Services

Healthcare

Company Size

1,001-5,000

Company Stage

IPO

Headquarters

Portland, Oregon

Founded

1983

Overview

WEX Inc. offers a global commerce platform that helps businesses manage employee benefits, fleet operations, and business payments. Their services include managing health savings accounts, providing fleet management tools like fuel cards and telematics, and automating payment processes. WEX stands out by offering a comprehensive suite of specialized services that improve operational efficiency and reduce costs. The company's goal is to empower businesses to focus on their core activities while promoting diversity and social responsibility.

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Simplify's Take

What believers are saying

  • The rise of embedded finance offers new revenue streams for WEX's business payments sector.
  • Growth in EV adoption drives demand for WEX's innovative fleet management solutions.
  • Real-time payments trend provides opportunities for WEX to offer faster payment solutions.

What critics are saying

  • Slow migration to digital payments may hinder WEX's growth in the digital sector.
  • Payoneer's expansion into China increases competition in the global payments market.
  • Economic volatility and geopolitical tensions could impact WEX's B2B payment digitization.

What makes Wex unique

  • WEX offers comprehensive B2B solutions in employee benefits, fleet management, and business payments.
  • The company emphasizes security and control in financial and information management solutions.
  • WEX's EV Depot supports secure on-site vehicle charging payments, enhancing fleet management.

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Funding

Total Funding

$2378M

Above

Industry Average

Funded Over

2 Rounds

Post IPO Debt funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Debt Funding Comparison
Coming Soon

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Life Insurance

Disability Insurance

Health Savings Account/Flexible Spending Account

Paid Vacation

Tuition Reimbursement

Company News

PYMNTS
May 1st, 2025
Wex Says Corporate Payments Ecosystem Is Calibrated For The Long Term

How businesses move money across key B2B sectors like fuel, travel and healthcare is quietly reshaping the background operational layer of many modern enterprises. In times of uncertainty and macro dynamism, that can be both a blessing and a curse. WEX, the Portland, Maine-based global commerce platform, emphasized as much on its Q1 2025 earnings [] The post WEX Says Corporate Payments Ecosystem Is Calibrated for the Long Term appeared first on PYMNTS.com.

Yahoo Finance
Apr 28th, 2025
WEX Launches WEX EV Depot for Secure On-Site Vehicle Charging Payments

WEX launches WEX EV Depot for secure on-site vehicle charging payments.

PYMNTS
Apr 18th, 2025
From Pdfs To Apis: Enterprise Modernization Ditches Clunky Human Hand-Offs

There’s a systemic shift happening across the enterprise. Workflows that were once manual, slow and costly are now automated, intelligent and occurring in real-time. It’s a shift that has played out across other sectors, too, but it’s now coming for the back office with intention. After all, remember when it took a human being to [] The post From PDFs to APIs: Enterprise Modernization Ditches Clunky Human Hand-Offs appeared first on PYMNTS.com.

PYMNTS
Apr 16th, 2025
How Payments Innovation Underpins All-Weather Businesses And Resilient Supply Chains

In times of uncertainty, cash flow isn’t just king; it can be the entire royal court. For decades, payments have been the underappreciated plumbing of commerce, something viewed as essential but rarely strategic. Today, that paradigm has shifted dramatically. Against a backdrop where economic volatility has become the norm rather than the exception, “all-weather” businesses [] The post How Payments Innovation Underpins All-Weather Businesses and Resilient Supply Chains appeared first on PYMNTS.com.

PYMNTS
Apr 15th, 2025
Trump’S Tariffs Could Act As Tailwind For Digitizing B2B Payments

Hard times can help to build great companies. The reason? Amid challenges such as operational uncertainty, ongoing geopolitical friction and supply chain disarray, firms frequently scramble to turn cost centers into levers for resilience. Given the realities of today’s macro backdrop, many businesses are looking no further than one of the most stubbornly analog components [] The post Trump’s Tariffs Could Act as Tailwind for Digitizing B2B Payments appeared first on PYMNTS.com.

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Find jobs on Simplify and start your career today

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