Finix

Finix is a payments company that provides a full-stack processing platform for businesses that want to accept and send payments online and in person. Its offering combines a universal REST API, a dashboard, and no-code and low-code tools, allowing customers to configure payment acceptance, fee structures, payouts, recurring billing, tokenization, risk management, and compliance from a single system. Supported payment methods include debit, credit and business cards, ACH/EFT, digital wallets such as Apple Pay, Google Pay and Samsung Pay, in-person terminals, HSA/FSA, and network-sponsored gift cards.

Operational tooling is embedded in the product, including merchant onboarding and underwriting, reconciliation, dispute management, and more than ten automated report types. No-code products include Checkout Pages, Payment Links, Virtual Terminal, and Tokenization Forms, and the platform integrates directly with e-commerce plugins such as WooCommerce. Finix states it has direct connections to American Express, Discover, Mastercard, and Visa, and positions itself as a processor rather than a gateway. Security and compliance features cited include PCI DSS certification, 3D Secure, tokenization, and real-time fraud detection.

Finix serves software platforms, marketplaces, PayFacs, retailers, wholesalers, franchises, and e-commerce and omnichannel businesses, offering white-label tools so that the payments experience carries the customer's own brand.

Founding story

Richie Serna co-founded Finix in 2015; he has said the company was conceived as a payments infrastructure business built around the developer movement, and later shifted toward no-code products as customers, including those with developers, sought to avoid building payments themselves.

Business model

Finix provides payment processing and embedded payments infrastructure to businesses, which integrate once via API or use no-code tools to accept payments under their own brand. It offers configurable fee settings that its customers can apply to transactions, including international charges, volume discounts, per-payment-method fees, and accelerated settlement, allowing platforms to earn payments revenue from their own merchants.

Finix uses a cost-plus pricing model that itemizes the charges passed through to a customer and shows the Finix markup, contrasted in press coverage with flat percentage-plus-fixed-fee pricing. Custom pricing plans are offered to companies processing more than $1 million annually.

Traction

The company reports processing tens of billions of dollars and handling tens of billions of API calls annually, with 99.999% uptime. In 2022 it supported more than 12,000 merchants; the CEO said revenue quadrupled in the year prior to October 2024 and that the company closed more deals in 2024 than in its entire prior history. Headcount was 130 as of October 2024.

Latest developments

In October 2024 Finix announced a $75 million Series C led by Acrew Capital and co-led by Leap Global and Lightspeed Venture Partners, with new investors Citi Ventures and Tribeca Venture Partners and existing backers Homebrew, Insight Partners, Inspired Capital, and Cap Table Coalition. The company said the funds would go toward broadening its product offering, expanding into new regions, and growing its team beyond 130 employees. Finix did not disclose a valuation but said the round was an up round.