The past two years have been a wild ride.
Initially founded to serve companies operating in the travel industry, ConnexPay today supports a wide array of travel agencies, tour operators, and air and hotel consolidators with their payments needs.
As the travel industry bounces back from the effects of COVID-19, “revenge travel” is sweeping the world—consumers are eager to make up for lost time. During this exciting period, ConnexPay is proud to announce our $110 million Series C funding round, led by FTV Capital, with participation from current investors Panoramic Ventures and F-Prime Capital.
This latest investment will power:
- International expansion across Europe and beyond
- Continued enhancement of our innovative payments platform
With this new round, ConnexPay’s total funding reaches $145 million.
Why FTV Capital Invested in ConnexPay
ConnexPay’s technology enables commerce intermediaries—such as online travel agencies (OTAs)—to combine payment acceptance and issuance in a single solution.
Key benefits include:
- Virtual credit card payments that simplify the payments experience and drive rebates
- New revenue streams for merchants of record by monetizing the payment flow
- Improved economics without the need for credit lines or pre-funded accounts
- Faster settlement and increased liquidity, as incoming customer funds are available immediately
- Simplified reporting and reconciliation
With ConnexPay, clients benefit from a seamless, transparent payments ecosystem that accelerates their business.
Growing Beyond Travel
Since our inception in 2017, ConnexPay rapidly gained traction in the travel sector. However, in the past 18 months, we’ve expanded into new industries where commerce intermediaries also face similar payments challenges.
ConnexPay now serves clients across:
- Online marketplaces
- Media & advertising
- Loyalty & rewards
- Ticket brokers & resellers
- Delivery services
- Insurance brokers & warranty providers
- Fintech applications
This Series C funding will allow ConnexPay to:
- Grow our team
- Support international expansion
- Invest in product development to support additional currencies
- Supercharge our next stage of growth
Sustained Growth and Proven Results
We’re honored to partner with Adam Hallquist, Chris Winship, and the FTV Capital team. Their depth of experience in fintech and proven success as growth investors will be invaluable as ConnexPay enters its next phase.
Our recent milestones:
- Doubled our customer base year over year
- Increased revenue 5x
- Maintained profitability while scaling
Today, ConnexPay serves 70+ clients across multiple industries and boasts best-in-class customer retention. As our customers grow and claim greater market share, so do we—fueled by continued improvements to our platform that unlock new ways for clients to monetize their businesses.
Looking Ahead
We're excited to work alongside FTV Capital to bring our unified payments platform to commerce intermediaries worldwide.
If you’d like to learn how ConnexPay can help your business save money and boost profits, explore our website or reach out to us today.
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