About Finxact
Finxact is a company based in Jacksonville (United States) founded in 2016 was acquired by Fiserv in February 2022.. Finxact has raised $74.84 million across 3 funding rounds from investors including Truist, Fiserv and Fiserv. The company has 133 employees as of December 31, 2021. Finxact offers products and services including Finxact Platform, Product Launchpad, and API References. Finxact operates in a competitive market with competitors including nCino, ION Group, Tuum, Thought Machine and Backbase, among others.
- Headquarter Jacksonville, United States
- Employees 133 as on 31 Dec, 2021
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Sectors
Financial Services
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Phone
*********
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Website
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Social
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- Legal Name Finxact, Inc.
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Products & Services of Finxact
Finxact offers a comprehensive portfolio of products and services, including Finxact Platform, Product Launchpad, and API References. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Cloud-native platform for API-first banking innovation and integrations.
Tool to design and launch financial products quickly.
Suite for seamless integrations and accelerating financial development.
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Software Development Team
284 people
Leadership Team
83 people
Sales and Marketing
81 people
Finance and Accounting
38 people
Human Resources and Administration
30 people
Product Management Team
25 people
Operations Team
23 people
Data Analysis and Operations Team
14 people
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Funding Insights of Finxact
Finxact has successfully raised a total of $74.84M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $32.84 million completed in February 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $32.8M
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First Round
First Round
(09 May 2017)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Feb, 2021 | Amount | Series B - Finxact | Valuation |
investors |
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| Jan, 2019 | Amount | Series A - Finxact | Valuation | American Bankers Association , Accenture | |
| May, 2017 | Amount | Seed - Finxact | Valuation | LiveOak Venture Partners |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Finxact
Finxact has secured backing from 8 investors, including institutional investors. Prominent investors backing the company include Truist, Fiserv and Fiserv. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Training, education, and certification services are provided to banking members.
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Founded Year | Domain | Location | |
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IT and management consultancy services are provided globally.
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Founded Year | Domain | Location | |
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Venture capital investments are provided to Texas-based tech founders.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Finxact
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Finxact
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Finxact Comparisons
Competitors of Finxact
Finxact operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as nCino, ION Group, Tuum, Thought Machine and Backbase, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Cloud-based API platform for banking operations is provided.
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| domain | founded_year | HQ Location |
Treasury management solutions are provided for financial institutions and banks.
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| domain | founded_year | HQ Location |
Cloud-native API-first core banking platform is provided for banks.
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| domain | founded_year | HQ Location |
Cloud-based platform for core banking is developed via APIs.
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| domain | founded_year | HQ Location |
AI-powered banking platforms are provided for operational growth.
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| domain | founded_year | HQ Location |
Cloud-based core banking solutions are offered to financial institutions.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Finxact
Frequently Asked Questions about Finxact
When was Finxact founded?
Finxact was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is Finxact located?
Finxact is headquartered in Jacksonville, United States.
Is Finxact a funded company?
Finxact is a funded company, having raised a total of $74.84M across 3 funding rounds to date. The company's 1st funding round was a Seed of $12M, raised on May 09, 2017.
How many employees does Finxact have?
As of Dec 31, 2021, the latest employee count at Finxact is 133.
What does Finxact do?
Finxact was founded in 2016 in Jacksonville, United States, as a provider in the fintech sector. Core banking operations are supported through a cloud-based platform featuring open APIs. Deposits, loans, and transactions are managed, while business rules are configured by financial institutions. A marketplace is offered for fintech suppliers to integrate solutions via APIs, enabling connections to the core platform.
Who are the top competitors of Finxact?
Finxact's top competitors include nCino, Thought Machine and Tuum.
What products or services does Finxact offer?
Finxact offers Finxact Platform, Product Launchpad, and API References.
Who are Finxact's investors?
Finxact has 8 investors. Key investors include Truist, Fiserv, Fiserv, Accenture, and American Bankers Association.
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