FlexPoint, a New York-based payments automation platform catering to managed service providers (MSPs) and their clientele, has secured $35 million in capital through a blend of equity and debt financing.
Investors
The round is highlighted by a $5 million equity investment led by Haymaker Ventures, with participation from existing investors Garuda Ventures, Far Out Ventures, and Cascade Seed Fund. In addition to the equity investment, FlexPoint also closed a $30 million credit facility provided by Tacora Capital.
Founded in 2021, Haymaker Ventures is a venture capital firm that invests in Seed and Series A rounds. Based in Claremont, New Hampshire, the firm specializes in early-stage fintech investments in fast-growing technology startups.
Tacora Capital is a private equity firm based in Texas, US, that focuses on venture capital investments. The firm finances early and mid-stage companies.
FlexPoint Use of Funds
The company will use the funds to further expand its working capital solutions. The infusion of capital will fuel FlexPoint's ongoing efforts to drive innovation, expand its service offerings, and solidify its position as a trusted partner for MSPs seeking to optimize their financial operations.
About FlexPoint
Founded in 2022, FlexPoint is a company that provides payment solutions. The company offers services that automate billing operations, increase cash flow efficiency, and provide working capital solutions. FlexPoint's software offers invoicing, payment processing, point-of-sale financing, and more to enhance payments and cash flow processes for managed service providers (MSPs) through automation and integrations, enabling IT channel partners to provide flexible customer payment solutions.
Funding Details
Company: LendARR Inc.
Raised: $35.0M
Round: Unknown
Funding Month: March 2024
Lead Investors: Haymaker Ventures, Tacora Capital
Additional Investors: Garuda Ventures, Far Out Ventures, Cascade Seed Fund
Company Website: https://www.getflexpoint.com/
Software Category: Payment Solution
Source: https://www.businesswire.com/news/home/20240318510543/en