American Express to Acquire Center, an Expense Management Startup

American Express said Thursday it plans to acquire Center, a startup platform for expense management.

Center CEO Naveen Singh founded the company in 2017. His father, Steve Singh, is executive chairman. Center last raised $30 million in series C funding in 2023, which the company said brought its total raised to $140 million.

American Express’s corporate management offerings primarily revolve around issuing corporate cards to clients. Its expense management services comes through third-party platforms, including Concur and Emburse.

Washington-based Center says its platform is meant to give businesses real-time visibility into employee spending, as well as automate…