😔 Finix or Stripe? The battle for dominance in the payments market

😔 Finix or Stripe? The battle for dominance in the payments market

▶️ A bit of background: Founded in 2016 by Richie Serna and Sean Donovan, Finix emerged after an unexpected turn of events: Balanced, the company where Serna worked, transferred its customers to Stripe, thus sparking a rivalry. Finix began developing payment technology for SaaS companies with specific needs, quickly attracting clients in retail and e-commerce sectors. Today, Finix and Stripe are vying to lead the industry.

▶️ Last Thursday, Finix announced a $75 million funding round to expand its product line and reach markets beyond the U.S. and Canada 🇨🇦.

▶️ Investors in this round include Acrew Capital, Leap Global, Lightspeed Venture Partners, Citi Ventures, and Tribeca Venture Partners.

▶️ Looking ahead: According to McKinsey, the global payments market is expected to grow by 5% annually over the next five years, turning this competition into a strategic race for a share of an expanding market.

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