Finix raises additional $30 million for payments infrastructure-as-a-service

Payments infrastructure-as-a-service provider Finix helps startups to build and manage their own business-critical payments experiences to reduce cost, increase flexibility, and accelerate time to market

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Finix raises additional $30 million for payments infrastructure-as-a-service

US paytech startup Finix has extended its series B funding round and raised an additional $30 million from Lightspeed Venture Partners and American Express Ventures.

Finix secured $45 million earlier this year as part of its series B funding round, taking its total raised since launch to more than $90 million.

Payments infrastructure-as-a-service provider Finix helps startups to build and manage their own business-critical payments experiences to reduce cost, increase flexibility, and accelerate time to market.

The paytech startup now has more than 80 members of staff, counts mobility management platform Passport Labs, private club management software platform Clubessential, retail point-of-sale company Lightspeed POS as clients, and recently quadrupled the payments volume processed through its platform.

Lindsay Fitzgerald, managing director at American Express Ventures, said: “Traditionally, companies who have wanted to operate their own payments infrastructure either had to build payments capabilities in-house, which is costly and time-consuming, or outsource to a third-party provider, which can also be expensive. Finix provides a solution that enables companies to own, manage and monetise their entire payments experience.”

“Finix and American Express share a dedication to helping businesses simplify operations and grow their business. We are excited to support Finix’s continued growth as they deliver tools for ecommerce innovators.”

Will Kohler, partner at Lightspeed Venture Partners, added: “The pandemic has made it clear that seamless digital payments experiences are more critical to success than ever before. Massive enterprises and startups alike should take advantage of Finix and its spot at the intersection of the cloud and payments.”