Series A is co-led by Unusual Ventures, Motive Partners and Bain Capital Ventures
IN BREIF:
- Paytrix aims to provide online businesses with a payments platform via one API
- The Series A follows a pre-seed funding round held last year, when it raised £5 million
- With this funding, Paytrix plans on investing in product development and expand across Europe, with the intention of making Ireland its “centre of global operations”.
What does this mean?
“High-potential companies struggle to cope with large volumes of international payments and there is a huge gap in the market — at one end you have inefficient local solutions; at the other, you have the tier-one global providers, inaccessible to all but the world’s biggest businesses,” says Aran Brown, CEO and co-founder of Paytrix. “Businesses have no option but to stitch together a costly and complex patchwork of service providers and this is the pain point that Paytrix is stepping in to solve.”
