Payments infrastructure platform Finix has raised $35m in Series B round that was led by Sequoia Capital.

The company’s existing investors Acrew Capital and Bain Capital Ventures, and new backers Activant Capital and Inspired Capital also joined the round.

The latest investment follows Finix’s $17.5m Series A funding round in July 2019. Overall, the company has raised a total of more than $55m.

With the new proceeds, Finix will expand its team to support product innovation.

Finix fundraising: What does the company do?

Established in 2015, Finix provides businesses with full ownership of their payments stack. It enables its clients to own, manage and monetise payments with control over user experience.

The company counts mobility management platform Passport Labs, retail point-of-sale company Lightspeed POS among its customers.

It is headquartered in San Francisco and has another office in Cincinnati, Ohio.

Finix CEO Richie Serna said: “We’re only just beginning to see what amazing experiences can be built when companies begin designing payments deeply into their user experience rather than treating it as a bolt-on.

“Every day, our customers prove to us they are able to build superior product experiences that delight both consumers and merchants when they have full control over their payments stacks.

“We envision a world where companies give just as much love and attention to the flow of money as the other elements of the product experience, which is why we’re honoured to be partnering with Sequoia–a firm that deeply understands what it takes to build amazing software products–as we enter our next phase of growth.”