Finexio bags $2.5m in new funding round

Finexio, a PayTech startup, has raised $2.5m from both existing and new investors in a new investment round.

The round also means Sunil Sabharwal, who recently served as chairman of Earthport, a cross-border payments company, will join Finexio’s board of directors.

Payments industry veterans Gary Staub and David Truetzel will also join Finexio’s advisory board to help provide strategic direction to CEO Ernest Rolfson and the leadership team.

“We believe the market will continue to shift towards electronic payment types for business to business payments and Finexio is well positioned to capture increased market share in the coming years,” said Rolfson.

“Having the financial support and domain expertise of senior financial technology and banking executives will help us execute our vision even more rapidly – with the added benefit of experience, perspective and long term relationships.”

The raise comes after Finexio raised $4m through its Series A round in January 2018.

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