Banking

US paytech Finix lands $30m funding at increased valuation

San Francisco-based paytech Finix has raised $30 million in fresh funding, bringing its total capital raised to date to $133 million.

Finix raises $30m

New and existing investors The General Partnership, 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 and Vamos Ventures all participated in the round, among others.

The paytech says it raised the capital at an increased valuation “despite the more challenging economic environment this year”.

Over the past year, the payments infrastructure-as-a-service provider has expanded its suite of in-person payment devices and capabilities and launched new features to help software platforms manage payment processes.

The company also doubled its annual payments volume over the period from 2020 to 2021.

Finix says Q2 2022 was the company’s best quarter ever in terms of new deals closed. Over the next few months, Finix plans to announce more features to help software platforms better manage their payments and merchants.

In August 2020, the company landed $30 million in an extension of its Series B round, led by Lightspeed Venture Partners and American Express Ventures.




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