Wex

WEX provides payment systems and other financial services across a range of industries, including transportation, travel, insurance, and healthcare. Read more

2,254 Followers on Owler
2,254 Followers on Owler
2,254 Followers on Owler
2,254 Followers on Owler

Wex

WEX provides payment systems and other financial services across a range of industries, including transportation, travel, insurance, and healthcare. Read more

Melissa D. Smith's photo - Chairman & CEO of Wex

Chairman & CEO

Melissa D. Smith

CEO Approval Rating

87/100

Founded:

1895

Status:

PublicIndependent CompanyNYSEWEX

WEX TOP COMPETITORS OR ALTERNATIVES

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Visa has been one of Wex's top competitors. Visa was founded in 1958, and is headquartered in Foster City, California. Visa competes in the Diversified Financial Services industry. Visa generates $19.7B more revenue vs. Wex.

American Express is a top competitor of Wex. American Express is a Public company that was founded in New York, New York in 1850. American Express competes in the Diversified Financial Services field. American Express has 60,000 more employees vs. Wex.

Mastercard is perceived as one of Wex's biggest rivals. Mastercard was founded in 1966, and its headquarters is in Purchase, New York. Mastercard is in the Diversified Financial Services industry. Mastercard has 17,300 more employees than Wex.

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Wex Quarterly and Annual Revenue

Trailing 12-Months Trend (TTM)

Annual Revenue

$1.6B

Wex's revenue is the ranked 6th among it's top 10 competitors. The top 10 competitors average 8.8B. Over the last four quarters, Wex's revenue has grown by 18.3%. Specifically, in Q1 2021's revenue was $410.8M; in Q4 2020, it was $399M; in Q3 2020, it was $382.1M; in Q2 2020, Wex's revenue was $347.1M.

Wex Acquisitions

COMPANY ACQUIRED
ACQUISITION DATE
AMOUNT
DESCRIPTION
Benefit Express Services, LLC

Apr 2021

Source »
$275M
Benefitexpress is an Illinois-based benefits administration company that provides ACA compliance, reimbursement administration and related services to employers and brokers.

-

certain health savings account (“HSA”) assets of HealthcareBank

Feb 2021

Source »
undisclosed
-
Optal Limited

Jan 2020

Source »
undisclosed
Optal develops a web and mobile-based application that offers payment processing and optimization solutions for merchants.
eNett International Pte. Ltd.

Jan 2020

Source »
$577.5M
eNett develops a web and mobile-based platform that offers B2B payment solutions for the travel industry.
Go Fuel Card

Mar 2019

Source »
undisclosed
GOfuel owns and operates the fuel station network that provides bulk and mini diesel tanker delivery services.

These are all the companies that Wex has acquired. Wex has acquired 11 companies and its latest acquisition was Benefit Express Services, LLC in Apr 2021. Benefitexpress is an Illinois-based benefits administration company that provides ACA compliance, reimbursement administration and related services to employers and brokers.

Wex Funding History

Since Wex was founded in 1895, it has participated in 4 rounds of funding. In total Wex has raised $2.7B. Wex's last funding round was on Jun 2020 for a total of $310.0M

ROUND

FUNDING DATE

AMOUNT

INVESTORS

Convertible Note
Jun 2020
$310M

Warburg Pincus LLC

Debt
Dec 2019
$1.3B
Equity
Jun 2016
$355M
-
IPO
Feb 2005
$720M

Since Wex was founded in 1895, it has participated in 4 rounds of funding. In total Wex has raised $2.7B. Wex's last funding round was on Jun 2020 for a total of $310.0M

Wex Investments

No recent investments found related to Wex

These are all the companies that Wex has invested in. Wex has invested 11 companies and its latest investment was Benefit Express Services, LLC in Apr 2021. Benefitexpress is an Illinois-based benefits administration company that provides ACA compliance, reimbursement administration and related services to employers and brokers.

Wex News

April 29, 2021Portland Press Herald

Portland's Wex continues to recover from impact of pandemic

The payment technology firm reported modest revenue and earnings declines for the first quarter of th... See more »
April 21, 2021MarketScreener

Kum & Go and WEX Announce Multi-Year Agreement

(marketscreener.com) WEX , a leading financial technology service provider, has signed a multi-year f... See more »
April 15, 2021Markets Insider

WEX Inc. to Release First Quarter 2021 Financial Results on April 29, 2021

WEX Inc. (NYSE: WEX), a leading financial technology service provider, today announced it will report... See more »
April 14, 2021FinTech InShorts

Signs Definitive Agreement to Acquire benefitexpress -

WEX: Signs Definitive Agreement to Acquire benefitexpress... See more »
April 13, 2021Global Legal Chronicle

WEX's Refinancing of Credit Facilities

Wilmer Cutler Pickering Hale and Dorr LLP advised WEX, Inc. on the deal. WEX, Inc., a leading financi... See more »
April 5, 2021PYMNTS

WEX Completes Purchase Of Some HealthcareBank HSA Assets

WEX Inc. has completed its previously announced acquisition of some health savings account (HSA) asse... See more »

Wex Blogs

April 19, 2021Wex Blog

4 Ways Virtual Fairs Improved Open Enrollment for One Employer

Open enrollment last year was unlike any other open enrollment for many employers. And it might never... See more »
April 13, 2021Wex Inc. Blog

B2B Virtual Payment: A Rapidly Evolving Family of Technologies

Payments in an Accelerated Innovation Period After decades of slow-to-no change in B2B payments proce... See more »
April 12, 2021Wex Inc. Blog

Why Diversity and Inclusion are Vital to Workplace Success

A study by Great Place to Work found that when employees trust they will be treated fairly and their ... See more »
April 8, 2021Wex Inc. Blog

ICHRA Attestation and Why It Matters

Individual coverage health reimbursement arrangements (ICHRAs) are still fairly new to the marketplac... See more »
April 5, 2021Wex Inc. Blog

What's Missing From Employee Financial Wellness? HSAs.

Paying for healthcare, and paying for retirement are the two issues that are top of mind for your emp... See more »
April 1, 2021Wex Inc. Blog

Why FSA Substantiation Matters and What To Look For

The IRS requires your flexible spending account (FSA) participants to submit documentation to show th... See more »
March 31, 2021Wex Inc. Blog

Salesforce Marketing Cloud: WEX Fleet Case Study

If you work in digital marketing chances are you've heard of Salesforce Marketing Cloud, given its re... See more »

Wex Press Releases

February 8, 2021StreetInsider

New Contract Between WEX Bank and NASPO ValuePoint Offers Savings To States and Other Eligible Users

PORTLAND, Maine--(BUSINESS WIRE)-- WEX Bank, a wholly owned subsidiary of...... See more »
November 9, 2020Business Wire

New Research from WEX and (E) BrandConnect Identifies the Pandemic as a Tipping Point for Digital Payments

PORTLAND, Maine--(BUSINESS WIRE)--WEX and (E) BrandConnect announce release of new white paper highli... See more »
March 4, 2020StreetInsider

WEX Inc. Updates First Quarter Revenue Outlook Based on Coronavirus Impact

PORTLAND, Maine--(BUSINESS...... See more »
February 19, 2020centralcharts

WEX's Health Division Strengthens Position as an Industry Leader

WEX , a leading financial technology service provider, further solidified its leadership position in ... See more »
November 19, 2019PR Newswire

Billtrust Strengthens Business Payments Network (BPN) with WEX Partnership

LAWRENCEVILLE, N.J., Nov. 19, 2019 /PRNewswire/ -- Billtrust, the leader in B2B order-to-cash solutio... See more »
November 5, 2019Business Wire

WEX to Present at the Citi 2019 Financial Technology Conference

PORTLAND, Maine--(BUSINESS WIRE)--WEX Inc. (NYSE:WEX), a leading financial technology service provide... See more »
August 21, 2019StreetInsider

WEX, Phillips 66 Sign Exclusive Multi-Year Private Label Extension

Major Fuel Retailer Deepens Its Relationship with Fleet Financial Technology Service Provider PORTLAN... See more »

Wex Videos

Social Media

Wex Headquarters

1 Hancock Street

Portland, Maine04101

1-207-773-8171

Driving Directions »

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Wex Summary

ABOUT

Overview

WEX provides payment systems and other financial services across a range of industries, including transportation, travel, insurance, and healthcare. Wex was founded in 1895. Wex's headquarters is located in Portland, Maine, USA 04101. It has raised 2...

CEO

Wex's Chairman & CEO, Melissa D. Smith, currently has an approval rating of 87%. Wex's primary competitors are Visa, American Express & Mastercard.

Website

wexinc.com

Frequently Asked Questions about Wex

  1. When was Wex founded?

    Wex was founded in 1895
  2. Who is Wex's CEO?

    Wex's CEO is Melissa D. Smith
  3. How much revenue does Wex generate?

    Wex generates $1.6B in revenue
  4. How much funding does Wex have?

    Wex has historically raised $2.7B in funding
  1. Where is Wex's headquarters?

    Wex's headquarters is in Portland Maine, USA
  2. How many employees does Wex have?

    Wex has 3,700 employees
  3. What sector does Wex operate in?

    Wex is in Systems Software, Fintech
  4. Who are Wex's competitors?

    Wex's top competitors are Visa, American Express, Mastercard