US fintech ConnexPay secures USD 7 mln series A funding

Friday 28 June 2019 11:13 CET | News

ConnexPay, a payment provider working with travel intermediaries, has secured USD 7 million through its Series A funding round led by BIP Capital.

Founded in 2017, ConnexPay claims it is transforming payment acceptance and issuance for online travel companies and ecommerce providers by offering a way to minimise risks and reduce costs in accepting payments from clients and issuing payments to suppliers while avoiding the need for large lines of credit or prepayments.

ConnexPay representatives have also announced it is expanding the issuance of Visa virtual cards in the travel industry. The company reported that by teaming up with Visa’s issuing and acquiring financial institution partners, it enables its customers to seamlessly use Visa single-use virtual credit cards to enable payments to travel suppliers.

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Keywords: ConnexPay, Series A, US, fintech, payment provider, travel intermediaries, Series A funding, North America, ecommerce buyers, B2B payments, BIP Capital
Countries: World

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