Payments infrastructure platform Finix has secured $30 million in a funding round that included American Express.
Participating in the round were several notable investors, including General Partnership, Franklin Templeton, Acrew Capital, Bain Capital Ventures, Cap Table Coalition, Homebrew, Insight Partners, Inspired Capital, Lightspeed Venture Partners, Precursor Ventures, PSP Growth, and Vamos Ventures.
Despite a challenging funding landscape, Finix announced that this financing comes at an increased valuation compared to its last round in early 2020, although it did not disclose the specific figure.
Founded by former executives from Stripe, Klarna, PayPal, and Worldpay, Finix provides companies the tools to create their own payments processing systems through a suite of APIs and dashboard reporting tools.
The platform boasts clients such as Lightspeed POS, Passport, and Kabbage (part of American Express). Finix reported that it doubled its total annual payments volume from 2020 to 2021, now supports over 12,000 active sub-merchants each month, and processed billions of API calls with an impressive 99.999% uptime.
Matt Harris, Managing Director at Bain Capital Ventures and a board member of Finix, commented, “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.”