Finix: Because Every Software Company Is A Payments Company

July 16, 2019

It’s no secret that Homebrew loves financial technology and services startups. Since our founding in 2013 we’ve been fortunate enough to invest in companies like Chime, Even, Gusto, Hummingbird, Plaid, and TrueAccord. Today we get to introduce you to Finix, an amazing team we led the seed financing for in 2017. They’ve been quietly creating software upon which the next generation of billion-dollar payments companies will be built, and have raised an additional $17.5m Series A to scale their work.

Who: Finix cofounders Richie and Sean both saw that new software stacks would need to be created to help companies bring their payments processing in-house. They combined their own deep expertise in the finance vertical with a team spanning established payments companies like First Data, PayPal, and Worldpay and fintech startups like Klarna and Balanced.

What: Vertically-focused software providers – companies like MindBody and Veeva that deliver purpose-built solutions for specific industries – are increasingly bringing payments in-house to increase profits, grow market share, and delight customers. And the best way to bring payments in-house today is to become a payment facilitator.

Traditionally, becoming a payment facilitator was a time-consuming, complicated and expensive proposition -- but Finix is changing the equation, and leveling the playing field for businesses that want to own, manage and monetize their payments in as little as 60 days.

How: Finix gives payments teams the flexibility to configure the perfect payments stack for their unique business needs with easy-to-use APIs and dashboards, deliver a seamless payments experience to customers and conveniently manage their entire provider ecosystem through a single platform of record. The Finix platform is SOC I and SOC II, PCI-Level 1 and GDPR compliant.

Why: As the Finix team explains eloquently in their own post, there’s both margin and customer satisfaction gains to be made for companies bringing their own payments processing in house. Before it was too complex to roll your own technology, develop internal expertise and manage the risk associated, but with Finix, you are allowing software to do the heavy lifting.

We know the Finix team has many more milestones ahead and we’re excited to be part of that journey. If you’d like to join them on this journey they’re hiring.