Paytrix, an embedded payments company for high-growth vertical software platforms, has bagged £5m in new funding.
The financing was led by Hambro Perks and saw participation from Fin VC, Better Tomorrow Ventures, The FinTech Fund and Bain Capital Partners as well as a range of angel investors.
Paytrix’s all-in-one full stack solution offers a payments curation layer that enhances payments infrastructure as businesses grow, helping them to scale smoothly.
According to Paytrix, its technology absorbs the risk, infrastructure buildout and complexity that comes with managing payments in-house.
The company’s solution offers payment acceptance, banking-as-a-service and real-time payout solutions to businesses spanning marketplaces, ecommerce, the gig economy and Web 3.
Paytrix CEO and co-founder Aran Brown said, “Very early in our journey, we recognised there was a real challenge in how growing businesses navigate the fragmented global payments ecosystem – much like in the consumer market there has been a great unbundling of financial services that have improved choice but created greater complexity.
“We believe the answer to this is curation and not orchestration – a deeper set of connections that can support not only complex payment flows, but those same flows across multiple geographies and payment types. We are thrilled that this vision resonated with such a prestigious group of investors and industry leaders.”
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