Matt serves as a partner at Bain Capital Ventures. His background includes managing partner roles at Village Ventures and earlier investment experience at Bain Capital.
Bill Lehmann
Partner
Bill is the founder and general partner at Step Function, following a period as a partner at Bain Capital Ventures. He has backed several seed-stage companies as an investor.
The investment was co-led by Unusual Ventures, Motive Partners, and Bain Capital Ventures to fuel international expansion and product development.
"High-potential companies struggle to cope with large volumes of international payments and there is a huge gap in the market — at one end you have inefficient local solutions; at the other, you have the tier-one global providers, inaccessible to all but the world’s biggest businesses. Businesses have no option but to stitch together a costly and complex patchwork of service providers and this is the pain point that Paytrix is stepping in to solve."
The London based payments curation platform has raised £5m from a syndicate led by Hambro Perks to scale its technology.
"Very early in our journey we recognised there was a real challenge in how growing businesses navigate the fragmented global payments ecosystem – much like in the consumer market there has been a great unbundling of financial services that has improved choice but created greater complexity. We believe the answer to this is curation and not orchestration – a deeper set of connections that can support not only complex payment flows, but those same flows across multiple geographies and payment types. We are thrilled that this vision resonated with such a prestigious group of investors and industry leaders."
Downing Ventures led the Series B round with participation from Bain Capital Ventures, Uncorrelated Ventures, MMC Ventures, and Chestnut Street Ventures.
"Securing a further significant round of funding is an important step in the development of the business and a huge vote of confidence in our team, technology and achievements to date,"
The investment will accelerate the delivery of next-generation bank-to-bank payments and open banking capabilities.
"This funding round demonstrates the strength of the business and the confidence both our customers and investors have in GoCardless. We’re incredibly proud to have seen continued business growth in such challenging times, and to have been able to continue supporting our customers – helping them stay in control of their payments and cash flow."
