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Finxact is a Jacksonville, Florida-based financial technology company that provides an enterprise-class, cloud-native core banking platform as a service for the modern financial services sector. The software utilizes open APIs and a consumption-based pricing model to allow financial institutions to integrate embedded payments and launch new financial products without replacing legacy infrastructure. Prior to its strategic acquisition, the organization scaled its operations to approximately 140 employees and secured $42 million in total equity funding. In 2022, the business was acquired by Fiserv in a transaction valued at $650 million, following earlier venture investments from Accenture and SunTrust Bank. Its core banking infrastructure currently supports various traditional financial institutions, fintech startups, and digital asset firms, including notable customers like Live Oak Bank and Anchorage Digital. Finxact was founded in 2016 by Frank Sanchez and Michael Sanchez.
Finxact has raised $42.0M across 2 funding rounds.
Finxact has raised $42.0M in total across 2 funding rounds.
Finxact has raised $42.0M in total across 2 funding rounds.
Finxact's investors include Brett Goode, Rob Nichols, Christopher Foskett, Chip Mahan, T.N. Incorporation, Truist Ventures, Woodforest National Bank, LiveOak Venture Partners.
Finxact has raised $42.0M across 2 funding rounds. Most recently, it raised $30.0M Other Equity in January 2019.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jan 25, 2019 | $30.0M Other Equity | Brett Goode, Rob Nichols, Christopher Foskett, Chip Mahan, T.N. Incorporation, Truist Ventures, Woodforest National Bank | |
| May 9, 2017 | $12.0M Seed | LiveOak Venture Partners |
