ConnexPay LLC

ConnexPay LLC is a B2B payments platform that simplifies customer payment acceptance and supplier virtual card payment issuance, enhancing financial transaction management for businesses across various sectors. Founded in 2017, ConnexPay LLC operates from St. Paul, US, and provides a unified platform for managing payments. The company has executed a total of 7 deals, the latest being a GROWTH round in October 2022, led by FTV Capital, raising USD 110.

00 mn, which brought the total amount raised to USD 110. 00 mn. CEO Robert Kaufman has been instrumental in the company’s vision since its inception, alongside co-founders Jacob Eisen and Robert Kaufman. ConnexPay offers an integrated B2B payments platform designed to streamline the acceptance of customer payments and the issuance of virtual card payments to suppliers.

Its core functionality unifies incoming and outgoing payments within a single system, enabling businesses to manage financial transactions in real time with improved transparency and efficiency. This platform includes proprietary features such as Intelligent PayOuts technology, which optimizes card rebate opportunities by automatically selecting the best card type for supplier acceptance. The platform serves a diverse client base across multiple industries, including online advertising, insurance, loyalty and rewards, event ticket sales, travel companies, and warranty providers. ConnexPay operates on a global scale, providing services to customers across six continents, effectively catering to businesses looking for modern payment solutions in regions such as North America, Europe, and Asia.

ConnexPay's revenue is derived from its innovative payment solutions, which facilitate both the acceptance of customer payments and the issuance of virtual card payments. The transaction structure involves businesses leveraging ConnexPay’s platform to streamline payment processes, thereby enhancing cash flow and operational efficiency. Clients typically engage in B2B transactions, utilizing the platform to manage incoming customer funds while also paying suppliers using those funds. The company’s offerings include services such as fraud prevention and chargeback management, which are integrated into the overall payment process.

Specific details regarding pricing plans or individual service costs have not been disclosed. The proprietary technology developed by ConnexPay, including its Chargeback Management System and Intelligent PayOuts, contributes to its competitive advantage in the marketplace. In October 2022, ConnexPay LLC raised USD 110. 00 mn in GROWTH funding led by FTV Capital, which will be used for international expansion initiatives and to further develop its payments platform.

The company is focused on entering new markets across North America, Europe, and Asia, leveraging the funding to enhance its service offerings and support an increasing global clientele.