ICYMI fintech funding round-up: Paytrix and Vixtra
At FinTech Futures, we know that it can be easy to let funding announcements slip you by in this fast-paced industry. That’s why we put together our weekly In Case You Missed It (ICYMI) funding round-up for you to get the latest funding news.
UK-based embedded finance start-up Paytrix has raised £5 million in a pre-seed funding round led by Hambro Perks.
Paytrix raises £5m
Bain Capital Ventures, Fin Capital, Better Tomorrow Ventures, The Fintech Fund and a number of angel investors also participated.
Founded this year, Paytrix aims to provide an “all-in-one” payments platform for software businesses that want to “eliminate the friction of scaling in new markets”.
The start-up offers payment acceptance, Banking-as-a-Service (BaaS) and real-time payout solutions to businesses such as marketplaces, e-commerce, the gig economy and Web3.
“Paytrix turns the complex into simple — enabling businesses to access the best payment and banking infrastructure around the world, all through one ecosystem, one contract and one API,” it says.
The company says it plans on using the new funding towards scaling its platform “to help businesses curate their payments globally and optimise them for real growth”.
Brazilian trade finance fintech Vixtra has bagged $3 million in a pre-Series A round led by Valor Capital.
The round also saw participation from Fontes II, a QED Investor’s fund dedicated to seed stage investments in Latin America.
With the new funding, Vixtra says it wants to accelerate the transaction volume in its payment and credit solution for international trade.
“Importers in Latin America have a very high working capital requirement, as they cannot get payment terms with their international suppliers. They also need a variety of services to make an international purchase,” says Leonardo Baltieri, co-founder of Vixtra.
“We have transformed the reality of many businesses by offering a complete platform of international trade services and specialised credit for international trade, in a less bureaucratic way.”
Baltieri adds that they expect to increase transaction volumes by 20x by H1 2023 and expand into new markets.
Founded in July 2021, Vixtra works as a payment method in the relationship between importers and exporters, allowing international suppliers to offer extended payment terms and importers to pay their purchases over time.
The company previously received $10 million in its seed funding round.
