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Finexio provides an Accounts Payable (AP) Payments as a Service platform, designed to automate and digitize the entire B2B payment lifecycle. Its core product streamlines payment operations by eliminating paper checks and manual processes, encompassing capabilities such as electronic payment delivery, robust fraud prevention, efficient supplier enablement, and comprehensive reporting and analytics. The platform leverages various electronic methods, including virtual cards and FinexioExpress, transforming traditionally cumbersome B2B transactions into secure, efficient, and often revenue-generating functions for enterprises.
The company was founded in 2015 by Ernest Rolfson and Chris Wyatt. Rolfson’s background as a working capital consultant at EY and a B2B payment product developer at MasterCard provided him with deep insight into corporate payment inefficiencies. He later collaborated with Wyatt at Change Healthcare, where their mutual frustration with the slow pace of innovation and the banking sector’s inability to address the extensive volume of manual, paper-based business payments led to the foundational idea for Finexio. Their vision centered on digitizing trillions of dollars in B2B transactions.
Finexio targets a diverse customer base, including CFOs, AP leaders, and various enterprise platforms across sectors like healthcare, higher education, and manufacturing. The company's mission is to modernize and simplify accounts payable, enabling businesses to transition from complex, manual workflows to streamlined and secure digital payment processes. By outsourcing payment delivery, supplier management, and exception handling, Finexio empowers finance teams to achieve significant operational efficiencies, reduce costs, and redirect focus toward more strategic business objectives.
Finexio has raised $101.0M across 8 funding rounds.
Finexio has raised $101.0M in total across 8 funding rounds.
Finexio has raised $101.0M in total across 8 funding rounds.
Finexio's investors include Horizon Technology Finance, Mendon Venture Partners, National Bank Holdings Corporation, Coelius Capital, Florida Funders, iNovia Capital, Hansell Shook, Joe Proto, Jules Walker, Kamiar Kordari, Paul Friday, Asylum Ventures.
Finexio is a fintech company specializing in Accounts Payable (AP) Payments as a Service, providing a fully managed, AI-powered platform that automates and optimizes B2B payments for mid-market and enterprise organizations.[1][2][3] It serves medium and large corporations across industries like construction, healthcare, higher education, hospitality, legal, manufacturing, private equity, and real estate, solving the problems of manual paper checks, fraud risks, supplier management inefficiencies, and lack of payment visibility by converting payments to secure electronic methods such as virtual cards, FinexioExpress, and e-checks.[1][4][5][8] The platform embeds into leading Procure-to-Pay (P2P) software suites, handles end-to-end payment operations, prevents fraud with up to $1MM loss recovery via Finexio Shield, enables revenue generation from AP spend, and delivers analytics—transforming AP from a cost center into a profit driver with billions in paper check spend eliminated for customers.[1][2][3][7]
Founded in 2015 and based in Orlando, Florida, Finexio has achieved rapid growth by partnering with top P2P platforms (powering three of the world's top 15), integrating with ERPs, and serving hundreds of CFOs while moving billions in payments securely.[2][3][6]
Finexio was founded in 2015 in Orlando, Florida, by payments industry veterans, including Ernest Rolfson (Founder and CEO), who brought deep expertise in B2B payments to address the inefficiencies of traditional, manual AP processes dominated by paper checks.[2][3] The idea emerged from recognizing the friction in supplier payments for mid-market and enterprise firms, where disjointed manual workflows led to high costs, errors, fraud risks, and poor visibility—prompting the creation of a comprehensive "Payments as a Service" model.[1][3][6] Early traction came from collaborating with CFOs across the U.S., rapidly scaling to handle billions in payments, renewing SOC 2 compliance, and embedding into major P2P suites like JAGGAER, which accelerated digital transformation for clients.[2][3][4]
Finexio rides the B2B payments digitization trend, capitalizing on the shift from manual paper checks (still dominant in AP) to electronic methods amid rising demands for efficiency, security, and revenue from spend in a high-interest-rate environment.[1][3][6][8] Timing is ideal as enterprises accelerate P2P digital transformation post-pandemic, with AI enabling fraud detection and supplier conversion at scale—market forces like regulatory pressures (AML/KYC), cyber threats, and procurement platform consolidation favor fully managed "as-a-service" models over fragmented bank solutions.[2][4][6] Finexio influences the ecosystem by powering infrastructure for leading S2P/AP vendors, disrupting banks' tech gaps, and standardizing virtual card adoption, supplier management, and AP monetization across sectors.[1][5][6]
Finexio is poised for continued expansion by deepening embeds in P2P ecosystems, scaling AI for predictive payments and global supplier networks, and innovating revenue tools like expanded virtual card options amid growing B2B fintech demand.[1][2][5] Trends like AI-driven finance automation, embedded finance proliferation, and regulatory pushes for secure digital payments will propel its growth, potentially capturing more mid-market share from legacy processes. Its influence may evolve into a dominant AP infrastructure layer, turning more cost centers into revenue engines—reinforcing its trailblazer status in optimizing the entire payment lifecycle.[3][7][8]
Finexio has raised $101.0M across 8 funding rounds. Most recently, it raised $10.0M Debt in December 2024.
