Finix, a US-based payment-management software provider backed by payment services firm Visa, received $35m yesterday in a series B round led by venture capital firm Sequoia Capital.
The round included Bain Capital Ventures, the VC division of private equity firm Bain Capital, as well as VC firm Acrew Capital, investment firm Activant Capital and VC fund Inspired Capital. Sequoia partner Pat Grady is joining Finix’s board of directors.
Founded in 2015, Finix has developed software that helps enterprises build their own internal payment management infrastructure, processing and monetise payment functions themselves rather than relying on a third-party.
Co-founders Richie Serna and Sean Donovan said in a joint statement announcing the round: “We plan to use the new funding to hire more engineers, accelerate product development and expand internationally.”
The company had previously raised more than $20m, taking $17.5m in a July 2019 series A round led by Bain Capital Ventures and backed by Visa, Insight Partners, Aspect Ventures and existing backers Homebrew, Precursor Ventures and Act One Ventures.
