Payrix Payments Technology (Payrix), a first-of-its-kind technology
platform for flexible payment facilitation, announced today that it has
received $22 million in new funding led by Blue Star Innovation Partners
(Blue Star), a Dallas-based investment fund founded by Dallas Cowboys
owner Jerry Jones, the Jones family and entrepreneur Rob Wechsler, and
Providence Strategic Growth (PSG), the growth equity affiliate of global
asset management firm Providence Equity Partners (Providence).
Boruch Greenberg, Co-founder and CEO of Payrix, said, “We’re excited to
have Blue Star and Providence as our first outside investors. Beyond the
investment, there is tremendous value in gaining access to teams who
have accomplished so much and built global brands in highly competitive
markets. The timing couldn’t be better. Our vision has always been to
build the industry’s most flexible solution to grow tomorrow’s
innovative platforms and ultimately change the conversation around
payments, and we have already established the value of our solution with
SaaS providers, marketplaces, merchant acquirers, banks and merchant
services providers. We believe this partnership with Blue Star and
Providence is the next step toward achieving that vision.”
Co-founder and Chief Strategy Officer Benny Silberstein added, “Payrix
has quickly become the go-to solution for technology platform payments.
We are excited to exponentially extend our market reach in partnership
with Blue Star and Providence.”
Blue Star has an impressive track record helping early and growth stage
companies reach their full potential as global market leaders. Blue Star
focuses on investments in creative entrepreneurs and operators who are
disrupting large markets. In each case, Blue Star applies its unique
formula of mentorship and guidance from the Jones family and top
executives in areas including operations, branding and go-to-market
strategies.
As part of the funding, Blue Star’s Rob Wechsler and PSG’s Marco Ferrari
will join the Payrix Board of Directors. Rob Wechsler has played a
significant role in a series of highly successful payment ventures,
including nine exits, and has partnered successfully in the past with
the PSG team on multiple payments investments.
“Our review of a number of payment platforms made it clear that Payrix’s
solution offered its customers an unparalleled opportunity by
transforming payments from a cost center to a profit center in order to
increase overall company value. The Payrix solution disrupts traditional
payments systems, streamlining key processes while addressing critical
risk and compliance issues. When combined with overall market excitement
in the FinTech space, we are thrilled to be working with the Payrix team
to accelerate its emergence as an industry leader,” said Rob Wechsler.
Over the past year, Payrix has enjoyed significant growth for its
payment technology platform. This investment round will allow Payrix to
continue to scale the company and invest in business development and
marketing for continued growth.
About Blue Star Innovation Partners
Blue Star Innovation Partners (Blue Star) is a growth equity investment
fund firm led by hand-selected serial entrepreneurs who co-manage and
invest alongside the Jones Family. Founded in 2016, Blue Star invests in
highly innovative lower-middle market businesses with $10 million to $50
million in annual revenue and the potential for global reach. By
providing efficient, direct funding and a unique formula of mentorship,
Blue Star helps steer highly creative entrepreneurs and operators
towards success.
Blue Star focuses on opportunities within the fields of sports,
financial services, entertainment, and technology, and operates out of
the Dallas Cowboys World Headquarters at The Star in Frisco, Texas. For
more information, visit www.bluestarinnovationpartners.com.
About Providence Strategic Growth Capital Partners
Providence Strategic Growth (PSG) is an affiliate of Providence Equity
Partners (Providence). Established in 2014, PSG focuses on growth equity
investments in lower middle market software and technology-enabled
service companies, primarily in North America. Providence is a premier
global asset management firm that pioneered a sector-focused approach to
private equity investing with the vision that a dedicated team of
industry experts could build exceptional companies of enduring value.
Since the firm’s inception in 1989, Providence has invested in more than
180 companies and is a leading equity investment firm focused on the
media, communications, education and information industries. Providence
is headquartered in Providence, RI, and also has offices in New York and
London. For more information on PSG, please visit https://www.provequity.com/private-equity/psg,
and for more information on Providence, please visit www.provequity.com.
About Payrix
Payrix Payments Technology (Payrix) provides marketplaces, SaaS
businesses and ISOs a flexible payments platform that enables them to
unlock more revenue potential. By empowering other platforms to grow
through payment facilitation, Payrix aims to lead the charge within the
technology industry to reimagine the digital economy.
As technology businesses continue to evolve, there’s no one-size fits
all approach to growth. With flexible options that encompass the payment
technology needed to scale, Payrix offers the ability to seamlessly grow
with the user’s business. From those just getting started to those who
are truly ready to become a payment facilitator, Payrix provides
white-label solutions that afford the flexibility to customize precisely
and strategically. It enables users to leverage solutions that maintain
the brand integrity of their merchant customers. For more information
about Payrix, visit www.payrix.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190423005819/en/