Finexio offers an embedded accounts payable payments solution that utilizes AI and secure electronic payment methods to enhance the B2B payment process. This service reduces manual tasks, prevents fraud, and provides visibility into payment operations, enabling mid-market and enterprise organizations to optimize their AP spend and generate revenue.
Funding
$75M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
HTFounders
Product
Problem
Many mid-market and enterprise organizations still rely on manual, paper-based accounts payable (AP) processes, leading to inefficiencies, increased costs, and a higher risk of fraud. These outdated systems lack visibility and control over payment operations, hindering efforts to optimize AP spend and generate revenue.
Solution
Finexio provides an AI-powered AP Payments as a Service solution that automates and secures the B2B payment lifecycle. The platform eliminates manual tasks, reduces costs, and prevents fraud by maximizing the adoption of secure electronic payment methods. Finexio offers complete payment operations, including payment delivery, fraud prevention, supplier management, and revenue generation, all within a robust security framework. The solution provides organizations with enhanced visibility and control over their payment data through centralized reporting and analytics.
Target Audience
Finexio primarily serves mid-market and enterprise organizations looking to modernize their AP processes, enhance security, and generate revenue from their AP spend, as well as accounts payable software, procurement software, and financial institutions seeking to offer embedded payment solutions.
Features
- AI-driven supplier management that predicts payment preferences to increase electronic payment adoption
- Comprehensive payment delivery and operations, handling 100% of payments
- Real-time fraud prevention and security measures, including account validation, OFAC, KYC, and AML monitoring
- AP spend monetization by converting existing payments to revenue-generating electronic methods
- Centralized payment reporting and analytics for unmatched visibility and control
- Support for various payment methods, including virtual cards, virtual cards by mail, and check payments
- Turnkey embedded payments for accounts payable and procurement software partners