Fintech Firm Finix Completes $30 Million Funding Round
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Payment technology firm Finix has raised $30 million in its latest funding round. The company announced that it has raised a total of $133 million from funding rounds so far. Participants n the round include Insight Partners, Homebrew, Cap Table Coalition, Bain Capital Ventures, Acrew Capital, American Express Ventures, Franklin Templeton, The General Partnership (TheGP), Lightspeed Venture Partners, and Inspired Capital.
Finix To Add Several Technology-Driven Features
Finix wants to add technology-driven innovative features to ensure swift payment management with software platforms. The firm has already powered payments worth billions of dollars.
Managing Director at Bain Capital Ventures and Finix’s Board Member, Matt Harris, commented on the funding. He noted that the future of fintech will be based on businesses that embed financial services where their customers need them most. With Finix’s state-of-the-art payments infrastructure, the company will make the embedded experience possible. Harris added that BVC is excited about the partnership with Finix and the growth prospect of the company.
Finix To Enable Software Platform To Manage Their Operations
Co-Founder of TheGP Dan Portillo commented on the development. He stated that the payment space is still young, with only 9% of the payments digital today. He stated that there is massive potential for businesses with configurable and modular payment technology. TheGP invested in Finix because the company is one of the best that provides software platforms with the flexibility they need to scale and succeed.
Finix has accomplished so many feats since it was launched. The firm rolled out several features that enable software platforms to easily manage payment operations while increasing revenues with minimal expenses. The firm has also expanded its suite of in-person payment devices and capabilities to efficiently serve more customers.
The tough global economic conditions have not prevented fintech firms from looking for capital for their expansion plans. In the first half of the year, several fintech firms have raised hundreds of millions of dollars to enable them to continue their product and service expansion. In March this year corporate card expense management platform Jeeves completed a $180 million Series C funding. This raised its valuation to $2.1 billion.