Finix, a San Francisco, CA-based payments infrastructure platform, raised $17.5m in Series A funding.
The round, which brings total capital raised to date to more than $20m, was led by Bain Capital Ventures, with participation from Insight Venture Partners, Aspect Ventures and Visa, joined by existing investors Homebrew, Precursor Ventures and Act One Ventures. In conjunction with the funding, Matt Harris, a partner at Bain Capital Ventures, joined the Finix board of directors.
The company intends to use the funds to accelerate product development and sales efforts worldwide.
Founded in 2015 by Richie Serna and Sean Donovan, Finix is a payments infrastructure platform that gives businesses a way to own, manage and monetize their entire payments experience without expenses associated with building an in-house system from the beginning.
Available on a fixed pricing model, customers don’t have to forfeit any basis points, have the flexibility to configure the payments stack needed for their unique business needs with APIs and dashboards, and manage their entire provider ecosystem through a single platform of record.
The platform is SOC I and SOC II, PCI-Level 1 and GDPR compliant.
Finix is used by companies like Clubessential and Lightspeed POS Inc.