Why We Invested · Bain Capital Ventures
Product
Finix provides tech infrastructure, including compliance, underwriting, and tokenization APIs, enabling software businesses to add payment processing capabilities.
In other words, they’re providing the technology infrastructure (i.e., compliance, underwriting, tokenization APIs) to allow software-driven businesses to more elegantly and easily add payments to their solution set.
Traction
Finix demonstrated seed-phase traction by winning customers across scaled software players, emerging software startups, payment processors, and banks.
Finix has demonstrated a number of critical elements of commercial traction in its seed phase, winning deals with scaled software players, emerging software players, processors, and banks. Lightspeed, for example, recently partnered with Finix to help launch ‘Lightspeed Payments.’
Team
Finix co-founders Richie Serna and Sean Donovan bring relevant domain expertise from previous roles at Balanced, Klarna US, and Vantiv/Worldpay.
Specifically, Finix Co-founder and CEO Richie Serna was previously an engineer at Balanced. Finix Co-founder and COO Sean Donovan was COO of Klarna US and previously worked at Vantiv/Worldpay while they invented the payfac model.
Investment context
Bain Capital Ventures led a $17.5 million Series A investment round in Finix.
That’s why today we are thrilled to announce that we’re leading a $17.5 million Series A in Finix, a middleware platform and set of value added software-based services that allow software companies to become payment facilitators.
What founders can learn
- The traction evidence that carried weight: Bain Capital Ventures wrote that Finix demonstrated seed-phase traction by winning customers across scaled software players, emerging software startups, payment processors, and banks.
- How the team was judged: Bain Capital Ventures wrote that Finix co-founders Richie Serna and Sean Donovan bring relevant domain expertise from previous roles at Balanced, Klarna US, and Vantiv/Worldpay.
Source and provenance
Why We Invested published by Bain Capital Ventures on baincapitalventures.com (first-party source). Read the original
