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"ConnexPay's Client Base More than Doubles Following $110 Million Investment"

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ConnexPay Achieves Significant Growth Following $110 Million Investment

ConnexPay, the first payments company to unify B2B payments, has experienced substantial growth in the 12 months since its $110 million growth equity investment. The company has doubled its customer base, expanding its reach across six continents. The investment, led by FTV Capital, has allowed ConnexPay to accelerate its international expansion efforts. This includes extending its global footprint by launching additional currencies, such as British Pounds (GBP) and Euros (EUR), to provide European customers with more flexibility in receiving and sending payments.

Leadership Appointments and Product Growth

To support its global expansion, ConnexPay has made key senior leadership appointments, including COO Blair Jeffery and Chief Revenue Officer George Hansen. The company has also continued to invest in its product offering, focusing on payout performance and introducing push-to-card payouts through a partnership with Payouts Network. Additionally, ConnexPay's Intelligent Payment Routing technology has maintained its industry-leading position in virtual card issuing performance.

Recognition and Client Wins

ConnexPay's commitment to innovation and growth has earned recognition from the business community. The company has been ranked on the 2023 Inc 5000 list of the fastest-growing private companies in America and received the gold award for Best Instant Payment Innovation in the Juniper Research Future Digital Awards 2023. With a 95% retention rate, ConnexPay serves a wide range of businesses, including Serefin, Plate IQ, Bonotel, and DisburseCloud. In conclusion, ConnexPay's significant growth, strategic leadership appointments, and commitment to innovation position the company as a leader in transforming B2B payments. With continued expansion and a customer-first approach, ConnexPay aims to revolutionize the payments space and support businesses worldwide.

Implications of ConnexPay's Growth for New Businesses

The significant growth of ConnexPay following a $110 million investment provides valuable insights for new businesses, particularly those in the B2B payments sector. The company's ability to double its customer base and expand globally showcases the potential of strategic investment in driving business growth.

Role of Leadership and Product Development

ConnexPay's strategic leadership appointments and continuous investment in product offerings highlight the importance of having a strong leadership team and a commitment to innovation. For new businesses, this underscores the need to invest in experienced leadership and continuous product development to stay competitive and meet customer needs.
Recognition and Customer Retention
ConnexPay's recognition in the business community and high customer retention rate demonstrate the value of commitment to innovation and customer satisfaction. This suggests that new businesses that prioritize innovation and customer service are likely to achieve recognition and customer loyalty, which are vital for long-term success. In conclusion, ConnexPay's growth story offers valuable lessons for new businesses in strategic investment, leadership, product development, and customer service. By emulating these strategies, new businesses can position themselves for growth and success in their respective markets.
Story First Published at: https://financialpost.com/pmn/business-wire-news-releases-pmn/connexpay-more-than-doubles-client-base-since-110-million-investment
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