Finix, a payments infrastructure platform built by the former PayPal, First Data and Worldpay executives, has landed $17.5 million funding from investors including Visa and Bain Capital Ventures.

The US-based company, co-founded by Richie Serna and Sean Donovan, launched its payments processing solution in 2015.

Finix claims that its API-driven payments stack solution offers businesses the ability to become a payment facilitator in as little as two months, at a fraction of the $3 to $5 million average cost of building a system in-house.

The Series A funding round was led by Bain Capital Ventures, with participation from Insight Venture Partners, Aspect Ventures and Visa, alongside existing investors Homebrew, Precursor Ventures and Act One Ventures.

The investment brings Finix's total capital raised to more than $20 million. The company said it will use the money to accelerate product development and sales efforts worldwide.

Serna, chief executive of Finix, said that payments technology has reached a tipping point.

"What companies like Lyft, Airbnb and MindBody all have in common beyond their high valuations is payments: they have each built their own payments stack.

“Our mission is to provide the foundation for the next generation of multi-billion dollar payments businesses by empowering them to become payment facilitators in months, not years."

Share Story: