California-based payments startup Finix raises $17.5 million in Series A

Richie Serna, chief executive officer and co-founder at Finix

California-based B2B payments platform Finix, has recently announced a $17.5 million Series A funding round led by Bain Capital Ventures, with participation from Insight Venture Partners, Aspect Ventures and Visa. Existing investors Homebrew, Precursor Ventures and Act One Ventures were also a part of this Series A funding.

The investment brings Finix’s total capital raised to more than $20 million and will accelerate the company’s product development and sales efforts worldwide. Matt Harris, a partner at Bain Capital Ventures, has also joined the Finix board of directors.

Finix is a payments platform that gives businesses a better way to own, manage and monetize their entire payments experience and reduces operational costs involved in building an in-house system from scratch.

Richie Serna, chief executive officer and co-founder at Finix commented, “Payments technology has reached an exciting tipping point. What companies like Lyft, Airbnb and MindBody all have in common beyond their high valuations is payments: they have each built their own payments stack. Our mission is to provide the foundation for the next generation of multi-billion-dollar payments businesses by empowering them to become payment facilitators in months, not years.”

Finix was founded in 2015 by Richie Serna and Sean Donovan who combined their unique expertise on emerging technologies and the payments industry to build a more efficient payments facilitation solution. Finix, enables businesses to be a B2B payments facilitator two months, Finix is available on a fixed pricing model, customers don’t have to forfeit any basis points. Finix enables payments team’s ability to integrate APIs and dashboards. The Finix platform is SOC I and SOC II, PCI-Level 1 and GDPR compliant.

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