Company: Paytrix
Founders: Aran Brown (CEO), Eddie Harrison (CPO)
Website: https://paytrix.io
About Paytrix
Founded in 2022, Paytrix is a London-headquartered fintech that helps fast-growth businesses to scale globally by simplifying international payments for them.
Until now, global payments have entailed complex infrastructure, high costs, geographic fragmentation and constantly evolving regulation. High-potential companies struggle to cope with large payment volumes and there is a huge gap in the market — with inefficient local solutions at one end, and tier-one global providers, inaccessible to all but the world’s biggest businesses, at the other.
Businesses looking to sell in international markets are left with no option but to stitch together an inefficient, costly and convoluted patchwork of payment service providers. With existing solutions, international payments typically require 10-15 partners, contracts, and APIs per geography. It’s either that or build a 200-strong payments team to make it all happen.
To solve this issue, Paytrix is developing the world’s first payments curation layer, which gives ecommerce retailers and marketplaces access to the best payment and banking infrastructure around the world – all through one platform, one contract and API.
From payment acceptance to settlement accounts to payouts; Paytrix’s payments curation service is optimised for cost, speed and efficiency. This essentially makes international payments as close to “plug and play” as it’s going to get.
The innovative model has certainly caught the interest of investors, with Paytrix securing £5m in pre-seed funding in October last year, plus a further $18.3M Series A round earlier this year, co-led by Bain Capital Ventures, Unusual Ventures and Motive Partners. Coming amid a global economic slowdown and a slump in investment into the fintech space, the size of the investment reflects confidence in the ability of the Paytrix solution to solve an acute business problem and underlines the scale of the opportunity.
As well as securing significant investment, Paytrix has also assembled a dream team with deep industry experience in financial services, fintech and payments to help achieve its mission. Co-Founder and CEO Aran Brown contributed to the growth and sale of Travelex and Skrill to corporate buyers. Co-founder and CPO Eddie Harrison built market-leading global payment products at Western Union and Travelex. CFO David Sola previously served as Managing Director at firms including Houlihan Lokey and UBS, and was Partner at Softbank. The team also includes CTO Ed Addario, who held the same role at Currencycloud, and Chief Compliance Officer Mike Southgate, who previously served in a similar position at Google.
