FTV Capital, a sector-focused growth equity firm, has led a $110 million investment in ConnexPay, a payments technology company.
Founded in 2017, ConnexPay was developed to serve the travel industry. The company continues to focus on travel while also serving other verticals that function as payment intermediaries, such as online marketplaces, delivery services, ticket brokers, emerging financial technologies and insurance and warranty providers. The funding looks to expand ConnexPay’s reach in Europe, as well as continue to enhance its payments service. Previous ConnexPay investors also participated in the round. With this investment, ConnexPay has raised a total of $145 million to date.
“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 while also winning in new markets as commerce intermediaries seek simpler, more convenient and more cost-effective payment solutions,” comments Adam Hallquist, principal at FTV.
D.A. Davidson served as strategic and financial advisor to ConnexPay.