The industry Finix is in is Fintech. The better way of explaining them is they help their customers become payment processors. Essentially, they say to companies that instead of using Stripe become Stripe.
The idea is that payments are such a big part of a business that more businesses are going to want to build it into their business instead of paying someone to do it. Finix unlike Stripe allows companies to do that because they don’t charge companies per payment rather they charge them a monthly price like a normal SaaS company does.
There were a bunch of notable exits this year. Honey was acquired by Paypal for $5B in January and below are a few others that happened in February
Also, if you look at the investment market Fintech is becoming a more and more popular place for VCs to invest.
There is no information available about Finix revenue. The big takeaway for me is that they are focused on large payment processors rather than every company like Stripe is.
The leadership at Finix is interesting.
The CEO doesn’t have experience leading a venture scale business but the people around him are impressive.
The co-founder was previously the COO at Klarna which is a billion-dollar fintech company today.
Also, the VP of Growth ran growth for another startup that was eventually acquired by AirBnB.
The CEO's lack of experience at scale doesn’t scare me because the team around him seems impressive.
They are hiring for Product Management, Design and, Engineering