FTV Capital Backs ConnexPay In $110M VC Round, Readies Startup For EU Expansion

ConnexPay, a technology company that combines card acceptance and card issuing into one single platform, confirmed a $110-million growth equity investment led by FTV Capital.

By combining card acceptance and card issuing, ConnexPay aims to remove risk and bring marked benefits to marketplace companies.

“ConnexPay was founded to transform the entire payments experience for the travel industry, and now that mission extends to other payment intermediary companies both in the U.S. and around the world,” said ConnexPay founder and CEO Robert Kaufman.

This new funding is expected to help ConnexPay expand into European markets, and beyond. It will also allow the Minneapolis-based company to continue enhancing its innovative platforms, as well.

So far, ConnexPay has raised a total of $145 million in funding.

San Francisco-based FTV Capital is responsible for raising more than $6.2 billion to invest in high-growth companies like ConnexPay.

FTV principal Adam Hallquist praised ConnexPay for delivering "tangible ROI to customers by converting payment processing from an expense to a new revenue stream.”

"ConnexPay’s differentiated technology, coupled with its rapid and profitable growth and seasoned leadership team, convinced us that ConnexPay is well positioned to further scale in its core markets," Hallquist said.