An Update from our CEO, Ernest Rolfson
Finexio was founded in 2015 with a mission to eliminate costly, manual AP payments for businesses. We realized there were better, more cost-efficient ways to manage payments than printing and processing paper checks.
Years later, no one could have anticipated the global crisis that has put an unprecedented financial strain on companies of all sizes, making cashflow and the role of the CFO more important than ever. During these trying times, Finexio has experienced unprecedented growth as company leaders have looked for help in streamlining their AP processes to reduce costs.
With that in mind, we have been working diligently to source the needed capital to expand our Payments as a Service platform. We are proud to announce today that we’ve recently achieved a substantial institutional investment of $23 million. Led by Medalist partners, with participation from existing investors like Florida Funders, we are excited to have the support and backing of many experienced payments industry executives.
We intend to use this added investment to expand our offerings and give businesses even more flexibility in how and when they pay their suppliers. In a time when banks are increasingly pulling back their support, we are investing in areas to provide additional liquidity and funding of your payables.
The Finexio team is now 40 strong,50% of which are in Orlando, 33% are female, and 33% non-white. We are dedicated to delivering a delightful customer experience and making the needed investments to grow with you.
Here are some of the things we’re working on in 2020 and beyond:
- Product investments to drive superior benchmarking and predictive insights, with recommendations on cash flow improvement, cost reduction, and revenue-generating opportunities.
- Senior level relationship managers to ensure our customer’s success- something banks simply do not provide.
- Ongoing training and development for Finexio staff, to ensure our customers and partners receive the best service possible.
- Expansion into Foreign Exchange, Supply Chain Finance, and Push to Card payment capabilities.
- Additional API development and ERP integrations to drive a seamless user experience.
This has undoubtedly been a year full of challenges- but also many opportunities- for AP departments. As we continue to work remotely to drive our businesses forward, we hope to become your trusted partner in navigating the “new normal” of paperless financial operation.
I’d welcome a conversation to see how we can help your business improve its payments process. Click Here to Contact Us
Ernest Rolfson - CEO, Finexio