CardX raises $2m in debt financing
B2B fintech start-up CardX has raised $2 million in debt financing from Pace Financial Group to fund further growth, writes Jane Connolly.
The Chicago-based company helps increase credit card acceptance by enabling businesses to avoid costly transaction fees. Through its credit card terminals, virtual terminals and consumer-facing online payment portals, enterprises can require customers to pay credit card fees at the time of purchase. 
ChicagoInno reports that CardX will use the financing to work on tech development and add 25 full-time employees to its 19-strong current workforce. The company’s total funding to date comes to over $8.6 million.
“The CardX team has built a great company with incredible potential for continued growth,” says John Carr, managing director of Pace Financial Group. “They have an excellent track record and we are very pleased to participate in funding the next stage of their expansion.”
CardX says it added more than 3,000 merchant locations in 2018 and its clients include businesses, academic institutions and government agencies.
