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- Payrix
Payrix Acquisition, Valuation, Funding & Investors
Payrix was acquired by Fidelity Information Services for $800M in February 2022, a 40.0x multiple on $20M of revenue.
Payrix revenue at acquisition
$20M
Last twelve months · Feb 2022
Payrix revenue multiple at acquisition
40.0x
EV/Revenue · Feb 2022
Cumulative funding Payrix raised
$72M
across 2 funding rounds
About Payrix
Payrix is an Atlanta-headquartered embedded payments platform for vertical software providers in the US. The service enables SaaS companies to monetize payments through white-label gateways, handling card processing, ACH, and subscription billing. Backed by Providence Strategic Growth, Payrix integrates with platforms like Salesforce and serves industries including salons, gyms, and nonprofits via partnerships with processors such as Worldpay.
Founded
2015
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Commission, Subscription
Revenue
$20M (Feb 2022)
Valuation
$800M (acquired Feb 2022)
Payrix Acquisition
Payrix was acquired by Fidelity Information Services for $800M on 14 February 2022.
The acquisition price implies a 40.0x revenue multiple on $20M of revenue.
Before the acquisition Payrix had raised $72M across 2 funding rounds.
Payrix, founded in 2015 and based in Atlanta, is a fintech company specializing in embedded payments for SaaS platforms, offering payment facilitation-as-a-service (PFaaS) or full payment infrastructure (payment IaaS) with automated underwriting, onboarding, compliance, billing, and settlement. FIS, a global provider of technology solutions for merchants, banks, and capital markets, acquired Payrix on December 23, 2021 (announced February 14, 2022) from investors led by Blue Star Innovation Partners and Providence Strategic Growth for approximately $800 million. The acquisition enhances FIS's embedded payments and finance capabilities for SMBs across industries, integrating Payrix's tools with Worldpay's global payment processing to enable platforms to scale e-commerce internationally. FIS stated the deal aligns with its strategy to expand e-commerce offerings via SaaS embeddings and unlock portfolio value, though it was not expected to materially impact financial results. Analysts estimated Payrix would add $10-20 million in revenue to FIS. FT Partners advised Payrix exclusively, while Clifford Chance advised FIS on the transaction involving multiple practice areas.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 14 Feb 2022 | Strategic M&A | $800M | 40.0x |
Payrix Funding History
Payrix has raised a total of $72M across 2 funding rounds.
Payrix's first fundraising round was a $22M undisclosed-stage round in April 2019. The most recent completed round was a $50M undisclosed-stage round in October 2020.
Payrix funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Oct 2020 | Undisclosed stage | Blue Star Innovation Partners (lead); PSG Equity (lead) | $50M | Payrix is a Frisco, Texas-based embedded fintech company and payment facilitation platform offering a flexible, staged approach to payment acceptance and sending capabilities. The company positions itself as a one-stop shop for accepting and sending payments, targeting software-as-a-service (SaaS) companies and aiming to generate recurring revenue through payment facilitation at scale. In October 2020, Payrix extended its Series A funding round, surpassing $50 million in total investment. The round was led by Blue Star Innovation Partners (BSIP), a Dallas-based growth equity fund founded by Dallas Cowboys owner Jerry Jones and entrepreneur Rob Wechsler, and Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners. At the time of the funding announcement, Payrix had approximately 55 employees nationwide and planned to use the capital to scale its product suite and expand its sales, marketing, product, engineering, and operations teams. The company's leadership emphasized its focus on creating stickiness and monetization opportunities for SaaS companies through its payment facilitation infrastructure. |
| Apr 2019 | Undisclosed stage | Blue Star Innovation Partners (lead); PSG Equity | $22M | Payrix Payments Technology is a payments platform offering flexible payment facilitation solutions that enable SaaS platforms and software companies to integrate payments, transforming payments from a cost center to a profit center by streamlining processes, addressing risk and compliance, and capturing revenue share opportunities. The company announced a $22 million growth equity funding round on April 24, 2019, led by Blue Star Innovation Partners—a Dallas-based 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 Providence Equity Partners. Rob Wechsler and PSG's Marco Ferrari joined Payrix's board as part of the deal. Payrix planned to use the proceeds to scale operations, invest in business development, and expand marketing amid significant growth in the prior year. Blue Star targets innovative lower-middle market businesses with $10 million to $50 million in annual revenue and global potential, providing funding alongside mentorship in operations, branding, and go-to-market strategies. Payrix co-founder and CEO Boruch Greenberg highlighted the value of partnering with experienced investors who have built global brands, while co-founder Benny Silberstein noted the platform's position as the go-to solution for technology platform payments. This 2019 round contributed to Payrix raising a total of $50 million across three funding rounds, according to aggregated data. |
Who has invested in Payrix?
2 investors have backed Payrix across its funding rounds, including PSG Equity and Blue Star Innovation Partners.
Lead investors include Blue Star Innovation Partners and PSG Equity.
Payrix Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 2 Payrix investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Payrix
Payrix has acquired 1 company to date.
Last acquisition by Payrix was on October 8th 2020. Payrix acquired IntegraPay for undisclosed valuation.
Latest Acquisitions by Payrix
| Description | IntegraPay is a Sydney, Australia-headquartered payment solutions provider for businesses seeking faster receivables. The company offers automated invoicing, direct debit collections, and debtor management tools tailored for trade contractors and professional services firms. |
| HQ Country | |
| HQ City | Brisbane |
| Deal Date | 8 Oct 2020 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Payrix acquisitions and their M&A valuation multiples. Start Free Trial | |
Payrix Competitors
Payrix competitors include listed companies like Optasia, eFinance and Computer Age Management Services, and private ones like M2P Fintech, Form3 and Spreedly.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $54M | - | $701M | 13.0x | ||
| Publicly listed | $265M | $79M | $1.1B | 3.6x | ||
| Private | - | - | $570M | - | ||
| Private | - | - | $500M | - | ||
| Publicly listed | $130M | $67M | $1.6B | - | ||
| Publicly listed | $158M | $74M | $1.8B | 10.5x |
Payrix Public Comps
Payrix is no longer listed, but its public comps include Fujian Apex Software, Mitek Systems, Cuscal, IRESS, Sinodata, Global Infotech, PEXA Group, Sunyard Technology, Worldline and Shanghai Amarsoft.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $87M | $28M | 7.6x | 7.8x | 23.6x | 24.0x | |||
| $180M | $37M | 4.1x | 3.7x | 19.9x | 11.2x | |||
| $297M | $22M | 5.1x | 5.8x | 67.8x | 24.6x | |||
| $396M | $103M | 2.1x | 2.3x | 8.2x | 8.3x | |||
| $128M | ($8M) | 5.6x | - | (84.9x) | - | |||
| $154M | $7M | 4.8x | - | 106.4x | - | |||
| $285M | $100M | 3.4x | 3.4x | 9.8x | 9.3x | |||
| $307M | $10M | 2.2x | - | 69.2x | - | |||
This data is available for Pro users. Sign up to see all Payrix competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Payrix
| When was Payrix founded? | Payrix was founded in 2015. |
| Where is Payrix headquartered? | Payrix is headquartered in Atlanta, GA, United States. |
| Is Payrix publicly listed? | No, Payrix was acquired by Fidelity Information Services in February 2022. |
| Who acquired Payrix? | Payrix was acquired by Fidelity Information Services in February 2022. |
| How much was Payrix acquired for? | Payrix was acquired for $800M in February 2022, a 40.0x revenue multiple. |
| How much funding has Payrix raised? | Payrix has raised $72M across 2 funding rounds. |
| What was Payrix's last funding round? | Payrix's last funding round was a $50M undisclosed-stage round in October 2020, led by Blue Star Innovation Partners and PSG Equity. |
| Who are Payrix's investors? | Payrix's investors include Blue Star Innovation Partners and PSG Equity. |
| Which companies are comparable to Payrix? | Companies comparable to Payrix include M2P Fintech, Optasia, Form3, Spreedly, eFinance and Computer Age Management Services. |
| How many companies has Payrix acquired? | Payrix has acquired 1 company, including IntegraPay. |
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