Photo: Payrix
Payrix Payments Technology (Payrix), a Hollywood, Florida-based flexible payments company, is known for providing marketplaces, SaaS businesses and ISOs with a flexible payments platform that enables them to gain more potential revenue.
By empowering platforms to grow through payment facilitation, Payrix is aiming to help businesses reimagine the digital economy. Payrix is doing this by offering flexible options that encompass the payment technology needed to scale and the company is offering the ability to seamlessly grow with the user’s business.
Payrix also provides white-label solutions that offer the flexibility to customize precisely and strategically. These options are available for businesses that are just getting started to those that are ready to become a payment facilitator.
Recently, Payrix announced that it raised $22 million in a new round of funding led by Blue Star Innovation Partners (Blue Star) — which is a Dallas-based investment fund founded by Dallas Cowboys owner Jerry Jones, the Jones family, and entrepreneur Robert Wechsler. Providence Strategic Growth, the growth equity affiliate of Providence Equity Partners, also participated in this round.
“We’re excited to have Blue Star and Providence as our first outside investors. Beyond the investment, there is tremendous value in gaining access to teams who have accomplished so much and built global brands in highly competitive markets,” said Payrix co-founder and CEO Boruch Greenberg in a statement. “The timing couldn’t be better. Our vision has always been to build the industry’s most flexible solution to grow tomorrow’s innovative platforms and ultimately change the conversation around payments, and we have already established the value of our solution with SaaS providers, marketplaces, merchant acquirers, banks and merchant services providers. We believe this partnership with Blue Star and Providence is the next step toward achieving that vision.”
In conjunction with the funding, Wechsler of Blue Star and Marco Ferrari of PSG is joining Payrix’s Board of Directors. Wechsler is known for overseeing a series of highly successful payment ventures — which involved nine exits and he has partnered successfully in the past with the PSG team on multiple payments investments.
“Payrix has quickly become the go-to solution for technology platform payments. We are excited to exponentially extend our market reach in partnership with Blue Star and Providence,” added Payrix co-founder and chief strategy officer Benny Silberstein.
Wechsler said that the company’s review of a number of payment platforms have made it clear that Payrix’s solution offers its customers an “unparalleled opportunity” as it transforms payments from a cost center to a profit center in order to increase company value. And he pointed out that Payrix’s solution disrupts traditional payment systems and streamlines key processes while addressing critical risks and compliance issues.
“When combined with overall market excitement in the FinTech space, we are thrilled to be working with the Payrix team to accelerate its emergence as an industry leader,” explained Wechsler.
In the past year, Payrix saw significant growth for its payment technology platform. And this round of funding will enable to company to continue to scale the company and invest in business development and marketing.
