Turning Software Companies Into Payments Companies: Finix Adds $30M To Series B
Summary
This service counters costly third-party partnerships, or burdensome “from scratch” mentalities, in which startups try to build an API on their own with engineering talent. “We are growing fast, but when we say it takes two to three years to build, it absolutely does because we did it,” said Richie Serna, Finix’s CEO, in an interview with Crunchbase News. Serna phrases it as “enabling the new Stripe’s and Square’s” of the world, nodding to two behemoths which help businesses handle e-commerce payments. Including the new funding, Finix has raised a total of $96 million since the company was founded, Serna said. Meanwhile, Finix’s transaction volume grew 4.5 times from Q2 2019 to Q2 2020, and the company experienced over 450 percent year-over-year growth, Serna said.