FlexPoint raises $12M Series A funding to expand its partner led B2B payments network.
NEW YORK–(BUSINESS WIRE)–FlexPoint, the trusted payments platform for managed service providers (MSPs) and the businesses they serve, announced today that it has raised $12 million in Series A funding led by Foundry Group, with participation from existing investors Haymaker Ventures, Garuda Ventures, Techstars, Far Out Ventures, and Cascade Seed Fund. This new round of funding brings FlexPoint’s total funding to $19.5 million since launching in March 2023.
This latest fundraise underscores FlexPoint’s rapid growth and cements its position as the leading payments platform for MSPs and the businesses they serve. With revenue growth of nearly 4x year over year, FlexPoint is trusted by over 40,000 businesses with their payments.
“The MSP market is the gateway to the $2 trillion global SMB technology market. 80% of all SMB technology spend is delivered by partners,” said Victor Lopez, Co-Founder and CEO at FlexPoint. “Our mission at FlexPoint is to build the B2B payments platform that powers SMB technology spend through our network of MSP partners.”
Through FlexPoint’s payments automation platform, MSPs, who typically provide mission critical technology services to small and midsize businesses, can automate their payments and grow their revenue. This latest round of funding will enable FlexPoint to double down on product development and further expand their MSP partner program.
“FlexPoint is bringing modern payments software to an underserved segment of the market through a unique partner led approach that creates a compelling distribution advantage,” said Jaclyn Freeman Hester, Partner, Foundry Group. “We’re thrilled to partner with this team of relentlessly focused executors. Operating with deep customer orientation and user empathy, FlexPoint has quickly created the foundational customer love necessary to build a category-defining company.
For more information, please visit www.getflexpoint.com
About FlexPoint
Founded in 2022, FlexPoint is a payments platform purpose built for managed service providers (MSPs) and the businesses they serve. Through robust automations and deep integrations, FlexPoint makes payments simple and cash flow perfect for MSPs and their business clients. Learn more at www.getflexpoint.com
Contacts
Victor Lopez
press@getflexpoint.com
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