Hot 25 Startups 2020: ConnexPay


ConnexPay

Service: Travel payments.

Location: U.S.

CEO: Bob Kaufman.

Most banks designate travel agencies and tour operators as high risk, which typically results in higher fees and a limited volume process.

Connexpay acts as a C2B2B intermediary, which transforms payment acceptance and issuance for travel providers.

This helps travel companies avoid large lines of credit or personal guarantees while reducing credit and debit card acceptance costs.

Goals for 2020

“ConnexPay is focused on geographic expansion and client growth in 2020. After launching in the United States initially, ConnexPay expanded into Canada in late 2019, and is projected to support the U.K. and Eurozone by mid-to-late 2020.

“The company has already signed several international clients. Expanding to new markets strategically positions ConnexPay to better serve its more globally focused customers.

“By acquiring and issuing payments in multiple currencies without cross border fees, ConnexPay will reduce its clients’ needs for multiple payments providers. ConnexPay is targeting a transaction processing run rate in excess of $10 billion for 2020.”

  • Founded: 2017.
  • Team size: 25.
  • Funds raised: $10 million+.
  • Website: ConnexPay.

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