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Finix raises an additional $30M to become the payments provider of choice for software platforms

The financing, raised from new and existing investors, brings Finix’s total funding to $133M.

Finix has raised $30M in new capital, bringing our total funding to $133M. New and existing investors chose to back Finix thanks to the growth we’ve shown in the last six months, including Q2 2022 being our best quarter ever in terms of new deals closed. Given the current funding environment, we also want to share that this financing (raised this summer) occurred at an increased valuation. 

We’re grateful to be backed by many incredible investors who believe in Finix’s mission of creating the most accessible financial services ecosystem in history, including The General Partnership (TheGP), Franklin Templeton, Acrew Capital, Amex Ventures, Bain Capital Ventures, Cap Table Coalition, Homebrew, Insight Partners, Inspired Capital, Lightspeed Venture Partners, Precursor Ventures, PSP Growth, and Vamos Ventures.

Here’s what Dan Portillo, co-founder and managing partner at TheGP had to say about their investment in Finix:

“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.” 

And here’s why Matt Harris, Finix board member and Managing Director at Bain Capital Ventures, is doubling down:

“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.”

Software platforms deserve better payments 

Recently, in a blog post “reintroducing” Finix, our CEO and co-founder, Richie Serna highlighted our rapid product development. Shortly afterward, a TechCrunch reporter asked about the changes we’d made (e.g., becoming a payfac, expanding in-person payments capabilities, etc.) and why Finix is confident competing against incumbents, specifically Stripe. The truth is, we’ve been hearing from software platforms for a while that they aren’t satisfied with other payments providers, and we believe they deserve better. Finix is dedicated to becoming the payments provider of choice for software platforms—and we’re well on our way. Here’s what some of our newest customers shared when asked why they selected Finix over the competition*:

  • "After having poor experiences with Stripe and CardConnect, we wanted to own more of the customer experience. Long term, we are sold on the ability to easily transition to becoming a PayFac."

  • “The personalized service and attention to my needs by all the people I've interacted with at Finix have been superb. I've felt deeply valued since my first engagement with Finix.”

  • We’ve been using Stripe Connect, but Stripe’s ability to turn off sub-merchants without explanation has led to poor experiences. My technical team considered several other providers and thought Finix’s APIs were the best.”

Over the next few months, we plan to announce more features to help our customers better manage payments and merchants on their platforms. Stay tuned!

*Each customer quote is from a separate software platform that has signed with Finix in the last month. Quotes were lightly edited for grammar and clarity.

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