Finexio, an Orlando, Florida-based fast-growing B2B accounts payables (AP) Payments-as-a-Service company, announced the first closed of its $30 million Series B funding at a $100 million pre-money valuation.

The round was co-led by Mendon Venture Partners and National Bank Holdings Corporation (NYSE: NBHC). Discover Financial Services (NYSE: DFS), 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.

Company: Finexio Inc.

Raised: $30.0M

Round: Series B

Funding Month: July 2022

Lead Investors: Mendon Venture Partners and National Bank Holdings Corporation (NYSE: NBHC)

Additional Investors: Discover Financial Services (NYSE: DFS), Post Road Partners, The Banc Funds, and EOM Investments

Company Website: https://www.finexio.com/

Software Category: AP Payments as a Service

About the Company: Finexio, the leading AP Payments as a Service company, focuses on providing end-to-end AP payment capabilities embedded within Accounts Payable and Procure to Pay (AP2P) Software Platforms. The embedded nature of Finexio's solution represents a powerful disruption to traditional, manual-based AP processes. Finexio's modern, efficient service model, minimal process charges, and breadth of payment solutions translate to high-margin revenue streams and a strong competitive position for AP2P partners seeking to provide payment offerings to their end users. 

Source: https://www.finexio.com/blog/finexio-raises-14-million-in-initial-close-of-series-b