Finexio Receives $14 Million in Initial Close of Series B Funding Round

Finexio, the fast-growing B2B accounts payables (AP) Payments-as-a-Service company, announced the first close of its $30 million funding round at a $100 million pre-money valuation co-led by Mendon Venture Partners and National Bank Holdings Corporation.

Discover Financial Services, Post Road Partners, The Banc Funds, EOM Investments, and other new and existing investors also participated in this growth round.

This Series B funding will enable the embedded B2B payments infrastructure company to accelerate the accounts payable and procurement software industry adoption of its "B2B Payments-as-a-Service platform", grow its team, and accelerate product development.

Ernest Rolfson, Founder and CEO, said:"This Series B growth investment comes behind Finexio's already strong momentum in the market as the B2B embedded payments partner of choice for AP2P software and will support additional investments in API and infrastructure technologies to support large complex AP2P software and financial institution partners. Quality institutional investors Mendon Venture Partners and National Bank Holdings Corporation were excited to provide an important boost to support the significant demand we are experiencing for payment solutions that cut costs and increase cashflow at a time when companies need it the most."

"We are pleased to invest as well as partner with Finexio to bring a powerful payments solution to our business clients in the vast middle market," said Tim Laney, Chairman, President and CEO of National Bank Holdings Corporation. "The ease of use together with the opportunity to reduce cost and drive efficiencies are truly impactful to business owners and operators. As NBHC continues to collaborate with cutting-edge companies to deliver innovative solutions to our business clients, we believe that Finexio's next-gen payments platform will help to drive significant growth in the rapidly evolving payments industry."

Joe Proto, Finexio's Chairman and serial fintech entrepreneur, added:"On behalf of all of us at Finexio, we are so honored to welcome Tim Laney from NBH and Andrew Marquardt from Mendon Venture Partners to our board of directors. We are very grateful to all our clients, employees and shareholders for their commitment to our success and proud of our new world-class investors joining us in this round."