Infinicept raises USD 23 mln for software-led payments

Thursday 12 May 2022 08:13 CET | News

Embedded payments provider Infinicept has announced a USD 23 million growth equity round to further innovate, grow, and meet demand for its embedded payment operations platform.

The round was led by SVB Financial Group (SVB), parent of Silicon Valley Bank, and Piper Sandler Merchant Banking, with participation from existing investors, including MissionOG. 

Since its previous round of funding in 2020, Infinicept has experienced growth with more than a 1,400% increase in annual payments volume. The company’s expanding customer base includes a range of organisations such as Fullsteam, a SaaS platform acquirer and payments company; Payroc, a merchant acquirer, processor, and payment facilitation company; and Squire, a booking and payment platform that connects people with barbershops.

The new funding will be used to amplify Infinicept’s product innovation, fuel customer success, and drive market expansion. Infinicept also plans to invest in capabilities to support embedded finance, enabling its customers to deliver more value and increase financial inclusion to small and medium-sized merchants.

Infinicept has established partnerships and/or integrations with industry players including Adyen, Discover, Dwolla, Fiserv, Handpoint Technologies, LexisNexis, Mastercard, Payroc, Silicon Valley Bank, and other global processor platforms.

The PayOps software-as-a-service (SaaS) platform allows payments companies, software providers, and financial institutions to scale their payments operations and have total ownership of their payments strategy. Infinicept serves over 300 software companies either directly or through our banking and payments customers and plays a role in the embedded finance market, which is projected to reach USD 585 billion by 2030, the official press release concludes.

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Keywords: embedded payments, SaaS, online payments
Categories: Payments & Commerce
Companies: Infinicept
Countries: United States
This article is part of category

Payments & Commerce


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