Event: 2024 Phocuswright Europe
Product: Intelligent PayOuts
HQ: Bonita Springs, FL U.S.
Principal(s): Founder, Bob Kaufman; CEO, Ben Peters; CRO George Hansen
Funding: $145 million raised to date from FTV Capital, FPrime, Panoramic Ventures and Tamiami Florida Angel Funds
Product Description: ConnexPay’s proprietary Intelligent PayOuts technology uses machine learning paired with big data to deliver the optimal payment outcomes most important to our clients, such as increased card acceptance, reduced cross-border and FX fees, and maximized rebates. With 60+ card programs and BINs across multiple networks, Intelligent PayOuts seamlessly delivers the right payment to the right supplier at the right time across the globe.
Business Model: ConnexPay is the first payments company to seamlessly combine PayIns and PayOuts into a single global platform, requiring only one contract and providing unified reconciliation. Founded in 2017, ConnexPay serves clients on 6 continents and provides payments services to over 175 countries worldwide.
Competitive Edge: ConnexPay’s innovative all-in-one payments platform allows companies to accept incoming customer payments and get real-time access to those funds that can be used to make outgoing payments (no waiting for payments to settle), with one contract, one reconciliation, and one team.
Market Opportunity: ConnexPay was purpose-built to serve OTAs, tour operators, and other travel intermediaries, allowing them to manage all of their B2B payments needs, from acquiring sales, managing fraud, and paying suppliers, inside a single platform. ConnexPay’s solution is applicable for other corporate payment use cases as well, including ticketing, insurance and warranty claims, and media and advertising buys.
