Finexio closes USD 30 mln funding round

Tuesday 26 July 2022 13:12 CET | News

Finexio, a B2B accounts payables (AP) Payments-as-a-Service company, has announced the first close of its USD 30 million funding round at a USD 100 million pre-money valuation.

The round was co-led by Mendon Venture Partners and National Bank Holdings Corporation. Discover Financial Services, Post Road Partners, The Banc Funds, EOM Investments, and other new and existing investors also participated in this growth round.

This Series B funding will enable the embedded B2B payments infrastructure company to accelerate the AP and procurement software industry adoption of its B2B Payments-as-a-Service platform, grow its team, and accelerate product development.

Finexio embeds B2B Payments-as-a-Service capabilities directly into AP and Procure to Pay Software (AP2P) suites. The Finexio infrastructure and APIs provide predictive payment and cash flow analytics capabilities, supplier identity and fraud prevention technology, and processing automation. These proprietary features allow corporate end-users of the software to identify, deliver, and support 100% of their business payments digitally, allowing them to make an easy and immediate transition away from manual payment processes and costly paper checks.

The company's software as a service infrastructure is in use by three of the top 15 largest AP2P providers globally that serve nearly 3,000 customers with USD 160 billion of B2B spend in the US. 

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Keywords: funding, B2B payments, accounts payable, banks, embedded finance
Categories: Banking & Fintech
Companies: Finexio
Countries: World
This article is part of category

Banking & Fintech


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