FTV invests in payments tech firm ConnexPay

The funding will be used for international expansion as well as to continue to enhance its payments platform.

  • With this investment, ConnexPay has raised a total of $145 million to date
  • In conjunction with the funding, Adam Hallquist, a principal at FTV Capital, joined ConnexPay’s board of directors, and Chris Winship, a partner at FTV Capital, became a board observer
  • D.A. Davidson served as strategic and financial advisor to ConnexPay

FTV Capital has led a $110 million investment in ConnexPay, a Minneapolis-based payments tech company. No financial terms were disclosed.

The funding will be used for international expansion as well as continue to enhance its payments platform.

With this investment, ConnexPay has raised a total of $145 million to date.
ConnexPay was founded in 2017.

“ConnexPay has proven itself as a leading payments solution that delivers tangible ROI to customers by converting payment processing from an expense to a new revenue stream,” said Adam Hallquist, a principal at FTV Capital, in a statement. “ConnexPay’s differentiated technology, coupled with its rapid and profitable growth and seasoned leadership team, convinced us that ConnexPay is well positioned to further scale in its core markets while also winning in new markets as commerce intermediaries seek simpler, more convenient and more cost-effective payment solutions.”

As part of this growth investment, Hallquist joined ConnexPay’s board of directors, and Chris Winship, a partner at FTV Capital, joined as a board observer.

D.A. Davidson served as strategic and financial advisor to ConnexPay.

FTV Capital invests in high-growth companies in three sectors: enterprise technology and services, financial services, and payments and transaction processing.