Finix, a payments infrastructure platform based in the U.S., announced on Tuesday it secured $35 million through its Series B funding round, which was led by Sequoia Capital with participation from Acrew Capital, Bain Capital Ventures, Activant Capital, and Inspired Capital. The funding round comes just a little over six months after Finix raised $17.5 million through its Series A funding round. The Series B brings Finix’s total capital raised to more than $55 million.
“Created by payments experts from First Data, PayPal, and Worldpay, Finix is trusted by companies like Clubessential and Lightspeed POS Inc. to build and scale their payments infrastructure.”
Speaking about the latest investment round, Richie Serna, CEO of at Finix, stated:
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 honored 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.”
Pat Grady, Partner at Sequoia, went on to add:
“Building a payments operation is painful. Historically, software companies have had two options: either take that pain and integrate payments into your software or give it to your customers in the form of a disconnected experience. Neither of those is a great option, but thanks to Finix there’s now a third option: let Finix shoulder the pain, and use their developer-friendly building blocks to provide integrated payments for your customers. Your customers love the seamless experience, and you add payments as a nice new revenue stream. It’s hard to imagine a future of disconnected software and payments, and it’s hard to imagine a better team than this one to build the integrated future we all deserve.”