Following this announcement, the investment will focus on FlexPoint’s developed process, as it will also aim to attract more customers and MSPs into its network. The funding round was led by Foundry Group, with participation from existing investors Haymaker Ventures, Garuda Ventures, Techstars, Far Out Ventures, and Cascade Seed Fund.
In addition, the company is expected to continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
According to officials of the company, FlexPoint’s payments automation platform will give MSPs the possibility to automate their payments and grow their revenue, as they are the ones who typically provide technology services to small and medium-sized businesses (SMBs). At the same time, this latest round of funding is expected to enable FlexPoint to double down on product development and further expand its MSP partner program.
The funding round will also focus on accelerating its strategy of developing the B2B payments platform that powers SMB technology spend through its network of MSP collaborators. In addition, the company will continue to launch modern payment software to an underserved segment of the market through the partner-led approach that designs a compelling distribution advantage.
Furthermore, operating with customer orientation and user experience in mind, FlexPoint is expected to develop a more secure and efficient platform for customers to benefit from, as well as optimise the overall financial landscape for its partners.
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