Embedded payments specialist Infinicept has raised $23 million in a growth equity round led by by SVB Financial Group and Piper Sandler Merchant Banking.
Infinicept's payment operations platform, PayOps, promises to help software companies gain the advantages of embedded payments, including increased revenue and more control of the merchant experience.
With more than 300 software companies, payment processors, sponsor banks and others relying on Infinicept, the firm has seen more than a 1400% increase in annual payments volumes since ints last funding round in 2020.
Todd Ablowitz, co-CEO, Infinicept, says: "We see an open, inclusive landscape free from stifling vendor lock-in where we can foster a new era of payments innovation.
"This investment allows Infinicept to build on our proven track record, extending our lead so we can help our customers accelerate their embedded payments journey."