Finix raised $75 million in a Series C round led by Acrew Capital, with contributions from Citi Ventures, Tribeca Venture Partners, and other prominent investors.
The new funds boost Finix’s total funding to over $208 million.
Finix processes 432 million transactions daily across the U.S. and Canada.
Payments processing company Finix has landed $75 million this week. The Series C investment, which brings the company’s total funding to just over $208 million, was led by Acrew Capital and co-led by Leap Global and Lightspeed Venture Partners. New investors Citi Ventures and Tribeca Venture Partners also contributed alongside existing investors Homebrew, Insight Partners, Inspired Capital, and Cap Table Coalition.
Finix was founded in 2015 to help banks, acquirers, and enterprises own, manage, and monetize their payments with a low-code user experience. The company processes 432 million transactions on a daily basis for software platforms, marketplaces, retail, and e-commerce businesses across the U.S. and Canada.
“Finix offers no-code payment solutions for the 22 million businesses without developers, enabling seamless payment integrations with little to no technical expertise,” said Finix CEO and Co-founder Richie Serna. “When we started Finix, we were big believers in the developer movement, and we still are! But over time we’ve seen a major shift in the market. Even businesses that have developers don’t want to spend their time or resources on payments — they want highly brandable, configurable payment solutions that require little to no technical expertise to implement. From startups to publicly traded companies, merchants to vertical SaaS companies, customers of all sizes are taking advantage of Finix’s no-code solutions. Today, every feature in our broad product suite is now available in no-code, low-code and API-driven solutions.”
The funds come at a time of growth for the California-based company. Finix has quadrupled its revenue in the last year. And while the company has not disclosed how many merchants it currently serves, Finix told TechCrunch that it supported more than 12,000 merchants in 2022 and that it has so far closed a record number of merchant deals this year. This growth was likely spurred by Finix becoming a full-stack acquirer processor in May 2023.
As for the next evolution of Finix, Serna said that the company has evolved into a full-stack acquirer/processor. As a testament to this, Finix currently offers real-time payouts, no-code/low-code capabilities, omnichannel support for both card-present and card-not-present transactions, and cross-border payments capabilities.
Photo by Marcel Eberle on Unsplash
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