In the three years since fintech startup Finexio moved its headquarters to Orlando, the company has seen triple-digit revenue growth and closed on a significant $23 million capital investment. In 2017, the Orlando Economic Partnership (the Partnership) worked with Finexio to move from Silicon Valley to Orlando with 10 employees. Finexio has since grown to over 40 employees and continues to grow rapidly with a succession of new product announcements, including expansion into Supply Chain Finance solutions and international payment capabilities. The company has also successfully completed additional API development and ERP connection capabilities including the availability of its solution in the Microsoft AppSource Marketplace.
“The global crisis caused by the COVID-19 pandemic has put an unprecedented financial strain on companies of all sizes, making cashflow and the role of the Chief Financial Officer (CFO) more important than ever,” Finexio CEO Ernest Rolfson said. “During these trying times, Finexio has experienced extraordinary growth as company leaders look for help in streamlining their Accounts Payable (AP) payment processes to reduce costs.”
The company worked diligently to source capital needed to expand its Payments-as-a-Service platform, which it was able to raise with Medalist Partners and the participation from existing investors like Florida Funders. Florida-based investors contributed nearly 15 percent of the capital, with the rest coming from New York where most financial services investing tends to occur.
“This round of investment is empowering tighter integrations and automation for customers, end users and partners in a fully remote working world,” Rolfson said. “The new capital is helping payments due on invoices get delivered faster to small businesses that need it the most. Helping our customer’s suppliers stay open during tough times, while making and saving money for our customers, is very satisfying to the team at Finexio.”