Finix Exceeds $100M in Funding and Adds Execs from Google, Tesla, and Uber to its C-Suite
SAN FRANCISCO, Feb. 24, 2021 /PRNewswire/ -- Finix, the payments infrastructure company helping vertical SaaS companies transform their businesses through payments, surpassed $100M in total funding, allocating 10% of its most recent funding round for Black and Latinx investors. Matching its financial growth, the company hired three senior executives to Chief Technology Officer, Chief Operations Officer, and Senior VP of Revenue roles.
"People too often focus on one aspect of diversity, but it's not just about diversifying your employees, leadership team, or cap table—it's about all of them combined," said Richie Serna, CEO and co-founder of Finix
During its Series B, Finix facilitated a special purpose vehicle (SPV) to bring more than 80 traditionally marginalized investors onto its cap table. The company believes this is a tangible example of how early-stage, high-growth startups can increase representation in the venture capital ecosystem and work to close the racial wealth gap. A community has grown amongst the SPV investors, providing a recruiting and partnership advantage for everyone involved.
"The Finix SPV provides tremendous value. It allows talented, knowledgeable investors and operators from diverse backgrounds—especially Black and Latinx people—who have traditionally been excluded from investing early in rocketship startups to be able to do so," said Tiffani Ashley Bell, Founder & Executive Director at The Human Utility and an SPV investor. "Finix's success and the success of the SPV will open up capital for many more entrepreneurs and investors from underrepresented communities."
"Black and other Latinx entrepreneurs and investors were the first people to believe in me and to back Finix. I'm happy to pay it forward by creating this SPV, and I hope other founders will do the same," Serna said. "During this process, we were also hiring for senior executive positions, and I'm grateful to have found leaders representative of our company culture with diverse backgrounds and experiences that align with our trajectory."
Finix has brought on seasoned executives with experience building, operating, and growing some of Silicon Valley's most notable companies to help it achieve its ission of turning every software company into a payments company. Finix's new leaders include:
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