Finix, the payments infrastructure platform, raised $35 million in a Series B funding round.
Sequoia Capital led the funding round with participation from existing investors Acrew Capital, Bain Capital Ventures, and new investors Activant Capital and Inspired Capital.
The Series B funding round brings the company’s total funding to date to over $55 million.
Finix helps other startups set up their own payment processing infrastructure systems in-house. The company’s customer includes Passport Labs (a mobility management platform), Clubessential (private club management software platform), Lightspeed POS (retail point-of-sale company), and Kabbage (a fintech company that offers cash flow management solutions to small businesses).
The company plans to use the new funds to grow its team to accelerate product innovation and meet the growing demand for embedded payments solutions.
“We’re only just beginning to see what amazing experiences can be built when companies begin designing payments deeply into their user experience rather than treating it as a bolt-on. Every day, our customers prove to us they are able to build superior product experiences that delight both consumers and merchants when they have full control over their payments stacks,” said Richie Serna, chief executive officer at Finix.