Fintech startup Paytrix lands £15m funding
Payments provider Paytrix has landed $18.3m (£14.8m) in Series A capital led by Unusual Ventures, Motive Partners and Bain Capital Ventures.
The London-headquartered fintech’s payment API is used by businesses to send, receive and store payments.
Aran Brown, CEO and co-founder of Paytrix, said the company is aiming to slot into the middle gap between “inefficient local solutions” and “tier-one global providers”, which are only available to the largest companies.
“People have been telling us that this is the worst time to raise funding in 20 years,” said Brown. “Given that backdrop, we’re delighted to have attracted such high-calibre investors.”
Fin Capital, Better Tomorrow Ventures, Hambro Perks, ClockTower Ventures, The Fintech Fund, D4 Ventures and unnamed angels joined the lead investors in the round.
It comes off the back of a Paytrix £5m pre-seed round led by Hambro Perks last year.
Matt Harris, partner at Bain Capital Ventures, said: “Paytrix is addressing a critical need for businesses operating in an international marketplace.
“The complexity and cost of cross-border payments have long been a major pain point for companies looking to scale, and Paytrix’s solution neatly tackles these challenges.”
Paytrix is also based in Ireland where its customer support, heads of finance, IT and operations reside.
The fintech company will use the proceeds of the Series A capital to fund overseas growth, with its Irish base becoming the centre for global operations.