NEW YORK--(BUSINESS WIRE)--FlexPoint, a payments automation platform for managed service providers (MSPs) and the businesses they serve, announced today that it has raised $35 million of capital through a combination of debt and equity to fund the growth of the company and its vision to provide MSPs with a financial platform to grow and run their businesses.
The round is highlighted by a $5 million equity investment led by Haymaker Ventures, with participation from existing investors Garuda Ventures, Far Out Ventures and Cascade Seed Fund. In addition to the equity investment, FlexPoint also closed a $30 million credit facility provided by Tacora Capital that will be used to further expand FlexPoint’s working capital solutions, which provides access to working capital for MSPs and their business clients.
The company previously raised $2.4 million in a round announced in September of last year. FlexPoint currently powers the payments for hundreds of MSPs and their business clients.
“I remember when monthly billing took more than half a day. Now, my account admin just goes onto FlexPoint and approves the invoices. It takes her 15 minutes, and all of our billing is done for the month,” said Michael Leonard, President at Compunet Technologies, a FlexPoint partner. “The FlexPoint team are great people and true partners. They take their job of helping us to be successful, improve our productivity, and streamline our billing very seriously.”
“We are proud to announce a funding round that shows the innate promise of what FlexPoint can do for managed service providers and our commitment to building a business that serves the MSP community for years to come,” said Victor Lopez, Co-Founder and CEO at FlexPoint. “These funds will allow us to continue to innovate and bring best in class solutions to our current and future MSP partners.”
“FlexPoint’s ability to change how MSPs do business and provide them the greatest view of their internal cash flow make it a strategic product,” said Phin Upham, Managing Partner of Haymaker Ventures. “We believe in what FlexPoint offers and the team deploying it.”
For more information, please visit getflexpoint.com.
About FlexPoint
Founded in 2022, FlexPoint is a payments platform purpose built for managed service providers (MSPs). Through robust automations and deep integrations, FlexPoint makes payments simple and cash flow perfect for MSPs and their business clients. Learn more at getflexpoint.com.
