Finix

Finix Raises $75 Million in Series C - October 24, 2024

Executive Summary

Finix provides payment infrastructure that enables software platforms and marketplaces to own their entire payment experience, from onboarding to processing to payouts.

Funding Amount: $75 Million

Valuation: Undisclosed

Round Type: Series C

Announced: October 24, 2024

Headquarters: San Francisco, California

Category: Fintech - Payment Infrastructure

About Finix

Finix was founded in 2015 and is headquartered in San Francisco, California.

Finix provides payment infrastructure that enables software platforms and marketplaces to own their entire payment experience, from onboarding to processing to payouts.

Funding Round Details

Investment Amount

Finix successfully raised $75 Million in this Series C funding round.

Lead Investors & Participants

Acrew Capital (Co-Lead Investor): Early-stage venture capital firm co-leading the Series C

Leap Global (Co-Lead Investor): Growth-stage investment firm co-leading the round

Lightspeed Venture Partners (Co-Lead Investor): Multi-stage venture capital firm co-leading the Series C

Use of Funds

The $75 million Series C will be used to expand Finix's payment infrastructure platform, enhance product capabilities, and support the growing number of software platforms and marketplaces that want to own their payment stack rather than relying on third-party payment processors.

Key Metrics & Achievements

• Enables software platforms to become payment facilitators
• Processes billions in payment volume annually
• Serves vertical SaaS platforms, marketplaces, and software companies
• Alternative to traditional payment processors like Stripe and Adyen
• Focus on embedded finance and payment facilitation

Business Model

Finix operates as a payment infrastructure provider, offering white-label payment processing capabilities to software platforms. The company enables platforms to become registered payment facilitators, giving them control over the payment experience, economics, and data. Finix earns revenue from transaction fees and platform fees.

Market Opportunity & Competition

Finix competes in the embedded payments infrastructure market with companies like Stripe Connect, Adyen for Platforms, and traditional payment processors. The company differentiates by offering true payment facilitation infrastructure that allows platforms to have their own merchant accounts and branded experiences.

This fundraising report was announced on October 24, 2024 and represents verified data from Crunchbase, Bloomberg, TechCrunch, and official company announcements.