Finexio, an Orlando, Fla.-based Accounts Payable (AP) Payments-as-a-Service company, raised $10m in funding.
Backers included Patriot Financial Partners and new investor Mendon Venture Partners.
Ernest Rolfson, Founder and CEO, Finexio provides an AP Payments as a Service infrastructure company powering many of the world’s largest accounts payable and procurement software platforms with a userbase of 150,000 customers, $200 billion in annual B2B AP spend, and over 3m suppliers.
The company is already deploying at scale white label payment solutions in many of the leading global procurement and accounts payable software platforms across multiple sectors— including hospitality, healthcare, higher education, manufacturing, and construction.
This past August, Banc of California (NYSE: BANC) invested in Finexio to deepen its portfolio of product offerings for its business clients and build out payment and related loan and deposit services. The companies intend to roll out a market leading AP B2B payments and working capital offering for both Finexio’s and Banc of California’s customers by the second quarter of 2022.
FinSMEs
05/01/2022