Finxact
Latest round
- Seed
Last raised
- May 2017
Total raised
- $12M
Investors
- 1
About Finxact
Finxact, Inc.Founded in 2016, Finxact, Inc. is headquartered in Jacksonville, US, focusing on delivering next-generation banking solutions. The company was founded by Michael Sanchez, and its CEO is Frank Sanchez. In February 2022, Fiserv, Inc. agreed to acquire Finxact for approximately USD 650 mn, which will bolster Fiserv's digital banking strategy and expand its account processing and payment solutions.Finxact specializes in providing a next-generation financial services platform that enables banks, fintechs, and other financial institutions to design, configure, and launch innovative financial products and features. Their core offerings include cloud-native, API-first solutions that facilitate seamless integrations for various financial functionalities, particularly in payments and embedded finance.Finxact’s revenue model is structured around subscription-based services and partnerships with financial institutions and fintechs. Clients enter agreements to implement Finxact’s solutions, which encompass transaction processing for payments and other financial services. Revenue is generated as clients utilize the platform through tiered pricing plans based on the range of features accessed, while specific pricing details remain proprietary.Finxact is focused on developing new products and expanding into new geographic markets. Following the acquisition by Fiserv, the strategy includes enhancing its account processing and digital solutions to meet evolving market demands. Specific markets targeted for expansion include additional regions within the United States, with ongoing evaluations for potential international opportunities.
Who invested in Finxact
1 investor across 1 round
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Funding rounds
Seed
May 9, 2017
Amount
$12M
Investors
Questions about Finxact
Who invested in Finxact?
Finxact has 1 investor on record across 1 venture round. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has Finxact raised?
Finxact has raised 1 venture round. Sign up free to see how much each round raised and the total.
When did Finxact last raise money?
Finxact's most recent round on record is a Seed, in May 2017.
What does Finxact do?
Finxact is a software company.
Where is Finxact headquartered?
Finxact is headquartered in Jacksonville, US.
Which VCs invest in companies like Finxact?
Among active investors with capital left to deploy, Andreessen Horowitz, Founders Fund, Accel and Thrive Capital back software companies at Finxact's stage. Their profiles are linked below.
VCs backing software startups at Seed
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