Finexio Raises $35M in 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.

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.

Fazzaco Hall of Fame 2022 Officially Opens (Click to Nominate)!​

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.