Finix announces $30m capital raise in Series B funding round

Payments services company Finix has announced raising new funding, extending its Series B financing with a $30 million investment led by Lightspeed Venture Partners and American Express Ventures.

Finix provides payments-related services to other companies in need of a payment gateway.

The new funding takes Finix’s total haul to over $96 million in venture capital.

Speaking on the company’s finances, CEO and co-founder, Richie Serna noted that $90 million of the total capital was raised in 2019 alone.

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However, the company has reportedly declined to disclose its revenue, revenue growth, new valuation, current profitability, or number of customers in a press briefing with journalists.

In a bid to expand its portfolio, Finix recently launched Flex, a new underwriting model that is aimed at helping businesses on archaic systems reduce switching costs between payment providers.

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