B2B paytech Finexio secures $35m Series B at $100m valuation
B2B payments-as-a-service firm Finexio, which specialises in providing accounts payable (AP) payment capabilities, has secured a $35 million Series B funding round valuing the company at $100 million.
Finexio lands $35m Series B
The oversubscribed round was co-led by Mendon Venture Partners and National Bank Holdings Corporation and saw participation from banking giant JP Morgan, which came in with the largest investment. Existing investor Patriot Financial Partners and new investors Discover Financial Services, Valley Bank and Trogg Hawley Capital also participated along with a number of c-level financial services and fintech executives.
Finexio provides embedded payments capabilities for accounts payable and procurement (AP2P) software providers looking to deploy B2B payments capabilities to their clients.
The company’s founder and CEO Ernest Rolfson believes that Finexio’s payments service will continue to grow “triple digits” in the coming years.
Last year, the Orlando-based AP payments company raised $8 million in a round led by Patriot Financial Partners and Banc of California.
