Horizon Technology, an affiliate of Monroe Capital and a leading specialty finance company that offers capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced it has provided a $10 million venture loan facility to OneNetwork, Inc. dba Finexio, of which $5 million has been initially funded.
Finexio – a leader in the B2B payments industry – delivers “Accounts Payable (AP) Payments as a Service,” a fully-managed AP payments solution that leverages AI to optimize, monetize, and secure the entire payment lifecycle. And Finexio’s platform automates and digitizes payments, seamlessly integrating with existing AP and Procurement systems through ACH, virtual credit cards, and checks. Finexio is also backed by top-tier investors, including JP Morgan and Mendon Venture Partners. And the company will use the loan proceeds for general growth and working capital purposes.
KEY QUOTES:
“Finexio’s platform exemplifies the future of payments through its ease of adoption and comprehensive digital capabilities, leveraging predictive analytics to help clients optimize payment timing, and cash flow, while providing a high level of fraud prevention. We are pleased to support Finexio’s growth as it pioneers the payment industry’s evolution.”
– Gerald A. Michaud, President of Horizon
“We are excited to have Horizon’s support as we continue to empower our customers and partners with our best-in-class technology. Their support strengthens our ability to provide solutions that reduce costs and make electronic payments faster, seamless and value-generating.”
– Ernest Rolfson, CEO of Finexio
