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August 12, 2022

Payment solutions provider Finix lands $30m investment

Finix has secured $30m in new funding that it will use to expand its offerings that enable payments for software platforms.

The infusion increases the total amount raised by the company to $133m.

The fundraising was supported by the firms current and new investors such as The General Partnership (TheGP), Franklin Templeton, Acrew Capital, American Express Ventures, Bain Capital Ventures, Cap Table Coalition, Homebrew and others.

Finix did not reveal the exact valuation but noted that the investment was made at a higher valuation, with the company recording its best quarterly performance in respect of completing new deals in the second quarter of this year.

TheGP co-founder and managing partner Dan Portillo said: “The payments space is surprisingly young—only nine percent of payments are digital today.

“And if the last two years have taught us anything, businesses with modular and configurable payments technology are best equipped to benefit from commerce moving online.

“TheGP invested in Finix because we believe they are the only payments provider that offers software platforms the flexibility needed to succeed as they scale.”   

In addition, Finix revealed its plan to add new features for its clients to manage their payments in a better way over the upcoming months.

Finix board member and Bain Capital Ventures managing director Matt Harris said: “The next generation of fintech is all about businesses embedding financial services when and where their customers need them most.

“Finix is a leading example of the type of state-of-the-art payments infrastructure provider that makes this embedded experience possible. BCV is proud to continue to support their growth.”

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