Paytrix, a London, UK-based company that created a curation layer that will enable you to access payments, raised $18.3 million in a Series A funding round to drive product development and international expansion.
The round was co-led by Unusual Ventures, Motive Partners, and Bain Capital Ventures. Fin Capital, Better Tomorrow Ventures, Hambro Perks, ClockTower Ventures, The Fintech Fund, D4 Ventures, and some angel investors backed Paytrix again.
The payments platform, which makes payments more efficient, is targeting the high-growth business market. It is eyeing international expansion, and with a growing team in Ireland, it will make Ireland the center of global operations.
“High-potential companies struggle to cope with large volumes of international payments and there is a huge gap in the market — at one end you have inefficient local solutions; at the other, you have the tier-one global providers, inaccessible to all but the world’s biggest businesses. Businesses have no option but to stitch together a costly and complex patchwork of service providers and this is the pain point that Paytrix is stepping in to solve," says Aran Brown, CEO and co-founder of Paytrix.
Company: Paytrix Group Limited
Round: Series A
Funding Month: March 2023
Lead Investors: Unusual Ventures, Motive Partners, and Bain Capital Ventures
Additional Investors: Fin Capital, Better Tomorrow Ventures, Hambro Perks, ClockTower Ventures, The Fintech Fund, D4 Ventures
Company Website: https://paytrix.io/
Software Category: Payments Curation and Infrastructure Solution
About the Company: Founded in 2022 by Aran Brown, Ed Addario, and Edward Harrison, Paytrix provides an all-in-one payments curation and infrastructure solution, eliminating the need for businesses to source and maintain up to 10–15 partners for cross-border payments. Paytrix enables businesses to better scale across borders, eliminating inefficiencies, costs, and complexities. By being regulated and sitting in the flow of funds, Paytrix empowers businesses to control their global payouts and settlements, eliminating FX and banking costs. The company is focusing on payouts now: it processes these currently in 133 currencies and 200+ countries, including real-time FX, and has Payments Institution license in the UK already approved by the FCA.