Finix has successfully raised $62.5 million over three funding rounds, with significant backing from top investors like Bain Capital Ventures, Homebrew, and Visa. The platform offers an end-to-end payment solution, integrating reliable APIs and tools for managing payment operations.
Keep reading to explore the intricacies of Finix's fundraising journey and the investors backing this innovative platform.
What Is Finix?
Founded in 2016, Finix is headquartered in San Francisco with an additional office in Cincinnati, Ohio. The company was established by Richie Serna, who serves as the CEO, and Sean Donovan, the Co-Founder.
Finix specializes in providing end-to-end payment processing solutions, helping businesses own, manage, and monetize their payment operations. Their platform includes features like payment acceptance, payouts, merchant underwriting, and compliance forms.
With a team of 51-200 employees, Finix is trusted by companies such as Lightspeed POS Inc. and Clubessential. The company is actively hiring and continues to expand its market presence.
How Much Funding Has Finix Raised?
- Seed Round
- Amount Raised: Not specified
- Date: October 2017
- Motivation Behind the Round: Initial funding to start the company.
- Series A
- Amount Raised: $17,500,000
- Date: July 2019
- Lead Investors: Bain Capital Ventures
- Motivation Behind the Round: To support the company's growth and expansion in the financial services and payments industry.
- Series B
- Amount Raised: $35,000,000
- Date: February 2020
- Lead Investors: Sequoia Capital
- Motivation Behind the Round: To expand market presence and further develop their payment infrastructure.
- Series B (Additional Funding)
- Amount Raised: $10,000,000
- Date: March 2020
- Lead Investors: Inspired Capital, PSP Growth
- Motivation Behind the Round: To further support Finix's expansion and enhance its payments infrastructure capabilities.
Total Amount Raised: $62,500,000
Current Valuation: Not disclosed
Key Investors
- Bain Capital Ventures
- Details: Bain Capital Ventures is a venture capital firm that invests in early to growth-stage companies. It is part of Bain Capital, a global private investment firm.
- Investment Focus Areas: Technology, software, financial services
- Notable Investments: LinkedIn, DocuSign, Jet.com
- Sequoia Capital
- Details: Sequoia Capital is a renowned venture capital firm that has backed some of the most successful technology companies. It focuses on early and growth-stage investments.
- Investment Focus Areas: Technology, innovation, software
- Notable Investments: Apple, Google, Stripe
- Homebrew
- Details: Homebrew is a seed-stage venture capital firm that invests in mission-driven founders. It was founded by Hunter Walk and Satya Patel.
- Investment Focus Areas: Technology, mission-driven startups
- Notable Investments: Chime, Gusto, Plaid
- Visa
- Details: Visa is a global payments technology company that facilitates electronic funds transfers worldwide. It is known for its credit card and payment processing services.
- Investment Focus Areas: Financial technology, payment solutions
- Notable Investments: Square, Stripe, Marqeta
- Inspired Capital
- Details: Inspired Capital is an early-stage venture capital firm founded by Alexa von Tobel and Penny Pritzker. It focuses on tech-advantaged, capital-efficient businesses.
- Investment Focus Areas: Consumer technology, enterprise technology
- Notable Investments: Habi, Chief
What's Next for Finix?
Finix stands at the forefront of a $2 trillion global payments market, offering software companies the chance to generate new revenue streams and enhance user experiences. With the payments volume by software companies expected to grow by 30% annually over the next decade, the opportunity for Finix is immense. The company’s managed payments infrastructure allows businesses to own, manage, and monetize their payments, positioning Finix as a key player in this rapidly expanding market.
Future fundraising opportunities seem promising, especially with recent investments from high-profile backers like Penny Pritzker and Inspired Capital. As Finix continues to innovate and announce new solutions and partnerships, additional funding rounds are likely. However, the company will need to navigate challenges such as intense competition and the complexities of the global payments industry to maintain its growth trajectory.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay’s platform to access comprehensive fundraising data on companies like Finix and gather other critical business insights.
Sign up for free on Clay and elevate your sales strategy today.
