Finix — Transforming Payments for Modern Businesses

In today’s digital-first economy, mid-market businesses face countless challenges in managing their payment processes efficiently. While large corporations have long had access to quick, cheap, and sophisticated payment technology, these mid-market players have been left with outdated systems and complex fee structures.

Industry Tailwinds

• Over the last decade, complexity in the payments market has risen dramatically as many merchants have moved towards an omni-channel strategy, which the legacy providers cannot properly address due to the old tech stacks upon which they were built
• There are 33MM+ small businesses in America, which account for 99.9% of all U.S. businesses. (Source)
• The global digital payments market is projected to reach $236Bn+ by 2028 (Source)

Yet despite these tailwinds, many mid-market firms are stuck using legacy processors, stitched together by patchwork software and point solutions. Enter Finix, a company that’s leveling the playing field by bringing enterprise-grade payment solutions to businesses of all sizes.

Originally built to be a payment facilitator in 2015, Finix was founded to democratize payments for mid-market companies. The company’s mission is to create the most accessible financial services ecosystem in history–starting with payments. Eight years later, Finix announced that they had made the necessary investment and taken the necessary steps to become a full-blown payment processor. As a processor, Finix is now connected to all major U.S. card networks — American Express, Discover, Mastercard, and Visa, allowing them to offer their customers instant onboarding, innovative products, and streamlined payment operations.

Since the transition in early 2023, Finix has acquired hundreds of customers and processed hundreds of millions of dollars worth of transactions. These customers have used Finix’s platform to reduce payment processing costs, streamline payment operations, improve cash flows, access detailed transaction data, and scale payment infrastructure as they grow. Finix customers reap these benefits by integrating into the Finix platform, which includes:

1. A Customizable API with thousands of configurations allowing tailored payment solutions in just one day.
2. User-Friendly Dashboard: Easy-to-use interface with low/no-code options for every customer.
3. Virtual Terminal: Allows users to process payments directly from their browsers.
4. Future-Proof Technology: An adaptable platform designed to meet ever-evolving payment needs.
5. No-Code Payments: Allows customers to set up tailored payments experiences for their buyers with zero code required.

At the helm of Finix is co-founder and CEO Richie Serna (pictured above), whose customer-centric vision is the driving force behind Finix’s success. Richie got his start in payments as an engineer at Balanced–the first payments API ever designed specifically for marketplaces. After Balanced was sold to Stripe in 2015, Richie founded Finix. The strides he’s made since–both personal and professional–have been incredible to witness. Founding a business is hard. Successfully leading a business through a major transition is harder. And we’ve watched Richie thrive at both.

Since we first invested in Finix nearly 5 years ago, we’ve had a front row seat to an incredible story; one with several twists and turns, all leading to today’s monumental announcement. We at Acrew Capital are incredibly proud to be leading Finix’s $75MM Series C round of funding alongside existing investor Lightspeed Venture Partners and new investor Leap Global Partners. We’re joined by other existing investors Homebrew, Insight Partners, Inspired Capital, and Cap Table Coalition, and new investors Citi Ventures, Open Opportunity Fund, and Tribeca Venture Partners, alongside many other faithful supporters.

In an era where every transaction counts, we believe that this capital will allow Finix to give their customers the tools they need to thrive, one payment at a time.