D.A. Davidson & Co. announced today that it has served as the exclusive strategic and financial advisor to ConnexPay on its $110 million Series C capital raise led by FTV Capital and with participation from existing investors Panoramic Ventures and F-Prime. In December 2021, D.A. Davidson advised the company on its Series B capital raise with Marqeta (NASDAQ: MQ).
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ConnexPay is the first and only unified payments platform that seamlessly integrates merchant acquiring, anti-fraud solutions and virtual card issuing on a single, end-to-end platform. D.A. Davidson's Technology Investment Banking Group served as the exclusive strategic and financial advisor to ConnexPay on its $110 million Series C capital raise led by FTV Capital and with participation from existing investors Panoramic Ventures and F-Prime. (Graphic: Business Wire)
Founded in 2017, ConnexPay is the first and only unified payments platform that seamlessly integrates merchant acquiring, anti-fraud solutions and virtual card issuing on a single, end-to-end platform. The flexibility of this technology allows clients to adopt the full end-to-end solution or leverage ConnexPay’s innovative intelligent routing issuing-only platform. The company’s technology simplifies an antiquated payments workflow, eliminates the need for pre-funded accounts, reduces supplier risk and the cost of accepting card payments while safeguarding consumer spend.
“The tech banking team at D.A. Davidson was invaluable in helping us evaluate and achieve our preferred outcome, which resulted in this agreement with FTV Capital, Panoramic Ventures, and F-Prime. Their transaction expertise, critical thinking, unparalleled understanding of the Payments sector, and commitment throughout the process made sure that we selected the right partner and reached a highly desirable outcome for all stakeholders. This is now twice over that they provided vital counsel to us!” said Bob Kaufman, Founder and CEO of ConnexPay.
“Bob and the ConnexPay team have built a truly remarkable solution that has revolutionized the entire payment process and workflow, especially as it relates to travel and other marketplace-based ecosystems,” said Aalap Merchant, Managing Director and Co-Head of Technology Investment Banking at D.A. Davidson. “We are excited to see what lies ahead for the ConnexPay team as they look to continue their expansion internationally and solidify their market-leading position.”
This transaction represents another successful closing by D.A. Davidson's Technology Investment Banking Group, highlighting our deep domain expertise in the payments space and successful track record generating highly favorable outcomes for high-growth FinTech companies globally.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,525 employees and offices in 27 states.
Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.
For information, visit dadavidson.com
Deal Team Contacts
Aalap Merchant, Managing Director, Co-Head, Technology Investment Banking Group | New York | firstname.lastname@example.org
Jordan Wittbrot | New York | email@example.com
Joseph Tamburello | New York | firstname.lastname@example.org
Clayton Portz | New York | email@example.com
Andreea Popa, Head of Equity Capital Markets Marketing | firstname.lastname@example.org