Payments infrastructure platform Finix has raised $30 million in a funding round in which American Express is a participant.
The round was attended by The General Partnership, Franklin Templeton, Acrew Capital, Bain Capital Ventures, Cap Table Coalition, Homebrew, Insight Partners, Inspired Capital, Lightspeed Venture Partners, Precursor Ventures, PSP Growth and Vamos Ventures.
In a difficult funding environment, Finix says the funding has an elevated valuation in its latest round in early 2020. However, the rating was not specified.
Developed by former Stripe, Klarna, PayPal and Worldpay executives, Finix enables companies to build their own payment processing stack using a set of basic APIs and dashboard reporting systems.
With customers like Lightspeed POS, Passport and Kabbage from American Express. The company says it doubled total annual payment volume from 2020 to 2021, grew to over 12,000 active negotiators per month, and processed billions of API calls with an uptime of 99.999%.
Matt Harris, MD at Bain Capital Ventures and board member of Finix, says, “The next generation of fintech is all about companies embedding financial services when and where their customers need them most. Finix is a leading example of the kind of state-of-the-art payment infrastructure provider that is enabling this embedded experience.”