Finix raises $30m for embeddable payments

The fresh funding brings Finix’s total raised to $133 million and was achieved at an increased valuation

Finix has raised $30 million of new capital, despite what the US fintech describes as “the more challenging economic environment this year”.

The fresh funding brings Finix’s total raised to $133 million and was achieved at an increased valuation.

Finix, headquartered in San Francisco with an additional office in Chicago, is a “payments technology company for software platforms”, offering modular and configurable products and services for target clients to manage their own operations.

New and existing investors that participated in this round include The General Partnership (TheGP), Franklin Templeton, American Express Ventures, Acrew Capital, Bain Capital Ventures, Cap Table Coalition, Homebrew, Insight Partners, Inspired Capital, Lightspeed Venture Partners, Precursor Ventures, PSP Growth, Vamos Ventures, and others.

Commenting on Finix’s potential despite the current economic environment, Dan Portillo, co-founder and managing partner at TheGP, said: “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.”

Image: Finix

Mark Dugdale