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Finxact

Jacksonville, US · Founded 2016 · Delaware corporation · 181 employees on LinkedIn · 9 known investors

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Finxact provides a cloud-native core banking platform used by large financial institutions, community banks, and commerce brands. It supports modernizing banking infrastructure and embedding financial services into customer experiences.

Cloud ComputingEnterprise SoftwareFintech

Founders & leadership

Finxact was founded in 2016 by Francis Sanchez and Michael Sanchez.

FS
Francis SanchezCo-founder
MSMichael Sanchez
Michael SanchezCofounder & President2016–2022He previously served as Chairman and President of Fidelity Information Services' International Division from 2004 to 2007, and as CEO of Sanchez Computer Associates and eProfile, Inc., both core banking and internet banking software companies.
CF
Christopher FoskettNamed on SEC filing
AK
Arkadi KuhlmannNamed on SEC filing

Investors · 9

Canapi Ventureslisted by Canapi VenturesNew York

How we know: Canapi Ventures's portfolio page · Not right? Tell us

Accenture VenturesreportedSan Francisco

How we know: funding news · pulse2.com · Not right? Tell us

Also in the syndicate · 6

American Bankers Association (ABA)First DataLive Oak VenturesSunTrust BankT.N. Incorporation Ltd (TNI)Woodforest National Bank

Funding

SEC filings, press & company announcements

$62.8M disclosed across 2 of 3 rounds · 2017–2021

▶$32.8MraisedFeb 2021 · 12 investors · Other Banking and Financial Services
Rule 506(b)
Officers, directors & promoters on the filing
  • Michael A. SanchezExecutive Officer, Director
  • Craig PhillipsDirector
  • James S. Mahan IIIDirector
  • Christopher FoskettDirector
  • Francis SanchezExecutive Officer, Director
  • Arkadi KuhlmannDirector
Offering amount
$51M
Amount sold
$32.8M
First sale
Feb 2021
Incorporated
Corporation, Delaware, 2016
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$30MraisedJan 2019 · 16 investors · Other
Rule 506(b)
Officers, directors & promoters on the filing
  • Francis SanchezExecutive Officer, Director
  • Christopher FoskettDirector
  • Arkadi KuhlmannDirector
  • Michael SanchezExecutive Officer, Director
Offering amount
$30M
Amount sold
$30M
Minimum investment
$1M
First sale
Dec 2018
Incorporated
Corporation, Delaware, 2016
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Founder mafia

2 people who came through Finxact went on to found or lead other companies.

Neil UnderwoodFormer Board ObserverFounded Canapi Ventures +2Michael SanchezExecutive Officer, DirectorFounded Savana +1

Related companies · 2

FiservFiserv provides omnichannel commerce, billing, payments, and digital banking solutions for merchants, financial institutions, governments, and technology providers worldwide. The company serves large enterprises, small businesses, banks, credit unions, fintechs, and public sector organizations with integrated platforms and payment connectivity.
FinovateFinovate runs conference events for the fintech and financial services industry, featuring live product demos, expert panel discussions, and networking. The events target senior-level executives, with a large share of attendees from banks, credit unions, and other financial institutions.

Companies working in the same space as Finxact.

In the news

Finxact Raises $30M For Banking SaaS | PYMNTS.compymnts.com · Jan 2019Finxact Secures $30 Million from Strategic Investors Including the American Bankers Association, Accenture Ventures, and SunTrust Bankprnewswire.com · Jan 2019

Frequently asked questions

What does Finxact do?
Finxact provides a cloud-native core banking platform used by large financial institutions, community banks, and commerce brands. It supports modernizing banking infrastructure and embedding financial services into customer experiences.
Who founded Finxact?
Finxact was founded by Francis Sanchez, Michael Sanchez in 2016.
Who are Finxact's investors?
Finxact's investors include Ally Ventures, Canapi Ventures, Accenture Ventures.
How much funding has Finxact raised?
Finxact has disclosed $62.8M raised across 2 of its 3 known rounds.
Where is Finxact headquartered?
Finxact is headquartered in Jacksonville, US.