Posted December 03, 2020
ConnexPay is a fintech startup and a provider of a payment gateway that connects and streamlines payment acceptance and issuance for marketplace companies. Prior to ConnexPay, these three companies would have needed to integrate their technology. ConnexPay now puts all of those three things into one.
Today, the Atlanta-based payment processing ConnexPay announced it has raised a $6.1 million Series A extension led by F-Prime Capital. The latest funding, which brings total funding to $15 million, will be used to accelerate growth, increase product offerings for the travel industry and expand in other sectors that have seen unprecedented growth in e-commerce transactions.
ConnexPay, which was founded in 2017 by Robert Kaufman, aims to streamline payments in the travel industry by using one platform to process payments from the consumer to the travel company and the travel company to the hospitality company.
By offering its customers a new way to minimize risks and reduce credit and debit card acceptance costs through linked real-time payments issued to suppliers, ConnexPay’s clients avoid the need for large lines of credit or personal guarantees.