Summary: In our latest podcast, Meghna Sreenivasan (WG ’20) is joined by Richie Serna, CEO and Co-Founder of Finix (https://finixpayments.com). Richie discusses the inspiration behind Finix: seeing the difficulties companies faced when creating payments infrastructure in-house, and the opportunity this presented. He also shares his thoughts on other innovative payments companies, the future of the industry, and lessons learned from his journey as an entrepreneur. Richie co-founded Finix with Sean Donovan in 2015 to redefine the economics of payments. Finix allows growing businesses to own and make money from their payments systems (vs. paying “rent” fees to third-party processors). Finix’s software allows companies to bring payments in-house, a process that previously took 2-3 years and cost millions of dollars. With Finix, they can do the same in as little as one month, and at a fraction of the cost. Finix is trusted by companies that process $50 million or more in payments like Lightspeed POS Inc. and Clubessential to build and scale their payments infrastructure. Finix is headquartered in San Francisco, with an additional office in Cincinnati, Ohio. Finix has raised funds from Bain Capital Ventures, Homebrew, Insight Venture Partners, Visa and several others.
