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April 24, 2019

Payrix Payments Technology obtains $22m investment

Payrix Payments Technology has raised $22m in a funding round led by investment fund Blue Star Innovation Partners.

Blue Star was set up by Dallas Cowboys owner Jerry Jones, the Jones family and entrepreneur Rob Wechsler.

Payrix also received funds from Providence Strategic Growth (PSG).

Rob Wechsler and Marco Ferrari from Blue Star and PSG, respectively, will now sit on the Payrix board.

Wechsler noted: “Our review of a number of payment platforms made it clear that Payrix’s solution offered its customers an unparalleled opportunity by transforming payments from a cost centre to a profit centre in order to increase overall company value.

“The Payrix solution disrupts traditional payments systems, streamlining key processes while addressing critical risk and compliance issues.”

With the new capital, Payrix intends to support business development and marketing efforts.

Payrix co-founder and CEO Boruch Greenberg said: “Our vision has always been to build the industry’s most flexible solution to grow tomorrow’s innovative platforms and ultimately change the conversation around payments, and we have already established the value of our solution with SaaS providers, marketplaces, merchant acquirers, banks and merchant services providers.

“We believe this partnership with Blue Star and Providence is the next step toward achieving that vision.”

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