ConnexPay is a payment technology company that enables marketplace businesses to collect and safeguard consumer funds while automating the distribution of payments to supplier.
ConnexPay is revolutionizing the payment distribution process by offering a combined merchant acquiring and virtual card issuing solution for mid-sized companies.
ConnexPay was founded in 2017 by Bob Kaufman. The company is headquartered in Minneapolis, Minnesota.
ConnexPay provides payment gateway technology that combines a merchant acquiring and virtual card issuing system for travel, marketplace and commerce intermediary companies, processing billions in transaction volume.
ConnexPay's technology simplifies an antiquated workflow, eliminates the need for pre-funded accounts, reduces supplier risk and the cost of accepting card payments while safeguarding consumer spend.
ConnexPay’s innovative solution has been integrated into industry-leading booking engines, offering end-to-end SaaS-based online booking tools to small and mid-sized travel agencies, OTAs, and TMCs.
ConnexPay is backed by Marqeta, F-Prime Capital, BIP Capital, and others. The company raised $20M in $20M in Series B round on Dec 09, 2021. This brings ConnexPay's total funding to $35.1M to date.