Orlando, Fla. – Finexio, a financial tech company that provides a business to business commercial payment network, announced today that it will relocate from Silicon Valley and open a new corporate headquarters and engineering department in Orlando. This is the first startup company from the Silicon Valley that has partnered with the Orlando Economic Partnership (the Partnership) to relocate to Orlando. The company will create 10 new high-wage jobs. Finexio announced $1 million in funding last summer and is working with investors to raise an additional $5 million to support its growth.
“We are excited to invest and build a deep rapport with the Central Florida business community,” said Ernest Rolfson, founder and CEO of Finexio. “We were impressed by the resources available to us and the assistance provided by the Orlando Economic Partnership. Remaining in Silicon Valley no longer made commercial sense for Finexio, our investors or customers,” he added. “We are working to secure our first major local customer which will accelerate our continued growth nationally and in the region.”
Finexio identified Orlando as a location because of its reputation as an emerging growth city for startups and innovative technologies as well as its ability to attract leading talent in the fintech sector. Other assets included Orlando’s enthusiastic business community, moderate cost to do business, and available students graduating from the University of Central Florida and its top tier engineering school.
Chairman of Finexio and longtime Orlando resident and investor Jim Heistand said, “Finexio’s Silicon Valley pedigree, unique value proposition, and rapid growth fit well with Orlando’s interest in further developing a leading innovation tech hub. We are encouraged by the prospects for Finexio and the region’s growth.”
“As an internationally recognized city with a strong urban core and a high quality of life, Orlando has become an ideal site for corporate headquarters looking to recruit top talent,” said Orlando Mayor Buddy Dyer. “Finexio’s decision to relocate their corporate headquarters to the City of Orlando is a testament to our community’s ability to retain the high-quality talent that enables growing companies to compete in the global marketplace.”
Finexio’s smart B2B payment network helps corporations eliminate costly and inefficient paper checks mailed to vendors. Deployed as an integrated commercial payment platform as a service, Finexio transforms accounts payable departments from a cost center to a profit center. Finexio is able to rapidly eliminate and convert checks to electronic formats thanks to unique integration with a variety of payment and billing aggregators, payment facilitators, merchant acquirers, processors and payment networks.
The Partnership hosted Finexio with key local business leaders in Orlando and in the Silicon Valley and helped solidify the company’s location decision. The Partnership also helped connect the company with resources in hiring software engineers.
“It’s exciting to see a company make the connection that Orlando offers a business-friendly and affordable option in terms of location,” said Crystal Sircy of the Orlando Economic Partnership. “More and more we’re seeing companies who are located in the high-cost Northern California area chose Orlando for either their expansion or relocation because of the value of our region and the abundant talent they find here as they look to grow their startup into a thriving, multi-faceted company.”
Finexio is the smart B2B payment network. The Finexio network eliminates commercial paper check spend by identifying and routing payments through a unique “network of closed loop networks.” Payments on the Finexio rails are seamlessly pushed into a supplier’s bank accounts at fees substantially lower than prevailing commercial payment costs. Finexio integrates into large payment aggregators, accounts payable automation, and procurement software platforms to enable them with a more efficient payment modality. More information on Finexio’s smart B2B payment network can be found at http://www.Finexio.com