With Three-Year Revenue Growth of 835 Percent, ConnexPay Ranks No. 704 Among America's Fastest-Growing Private Companies
ATLANTA, Aug. 15, 2023 ConnexPay, the first and only payments technology company that integrates payments acceptance and issuance inside a single platform, has been recognized on the prestigious annual Inc. 5000, representing the fastest-growing private companies in America. The distinguished ranking provides a data-driven look at the most successful companies within the economy's most dynamic segment—its independent, entrepreneurial businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other household name brands gained their first national exposure as honorees on the Inc. 5000.
Inclusion on the list follows 12 months of significant milestones for ConnexPay. After securing a $110 million growth equity investment led by FTV Capital in October 2022, the company recently extended its global footprint by introducing enhanced capabilities to better serve the UK and EU markets, further supporting its international growth. ConnexPay anticipates doubling revenue this year, following 500% net revenue growth in 2022.
ConnexPay's all-in-one platform allows businesses to significantly improve cash flow. By linking pay-ins and pay-outs, companies gain immediate access to incoming customer funds and no longer have to wait days or weeks for funds to clear. ConnexPay removes the traditional barriers to accessing cash in real time, which improves revenue recognition and ultimately boosts their clients' bottom line.
Bob Kaufman, Founder and CEO at ConnexPay, said: "We've had an incredible year at ConnexPay, and this marks a great achievement for everyone at the company. It's a privilege to be recognized on such a prestigious list, only made possible by everybody's hard work and commitment to innovation."
He added: "ConnexPay has helped hundreds of businesses optimize their payments processes. Through our single platform with one contract and one team, ConnexPay clients can streamline reconciliation and lower the total cost of payments. I'm looking forward to our company's continued growth trajectory as we support more customers with their payments needs across the globe."
The Inc. 5000 class of 2023 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. In all, this year's Inc. 5000 companies have added 1,187,266 jobs to the economy over the past three years.
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, available on newsstands beginning Tuesday, August 23.
"Running a business has only gotten harder since the end of the pandemic," says Inc. editor-in-chief Scott Omelianuk. "To make the Inc. 5000—with the fast growth that requires—is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future."
To learn more visit: https://connexpay.com/
About ConnexPay
ConnexPay is the first and only company to bring together the two sides of the payment process — payments acceptance and virtual payments issuing — into a single platform with one contract and one reconciliation. The flexibility of this technology allows clients to adopt the full end-to-end acquiring and issuing solution or leverage ConnexPay's innovative intelligent routing issuing-only platform.
Although ConnexPay started its journey with a focus on the travel and tourism space, ConnexPay's solutions are applicable across a broad spectrum of corporate payment use cases. The platform is well suited for corporate disbursements like insurance and warranty claims, loyalty and rewards payouts as well as corporate procurements like media/advertising buys and ticketing.
The company's technology simplifies an antiquated workflow, eliminates the need for pre-funded accounts, reduces supplier risk and the cost of accepting card payments while safeguarding consumer spend. Founded in 2017, ConnexPay is an industry leader in payments for industries historically viewed as high risk to payment providers. Learn more at www.connexpay.com and follow us on LinkedIn.
More about Inc. and the Inc. 5000
Methodology
Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.'s award-winning work reaches more than 50 million people across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
For more information on the Inc. 5000 Conference & Gala, slated for October 31 - November 2 in San Antonio, visit http://conference.inc.com/.
Pull Quote
We've had an incredible year at ConnexPay, and this marks a great achievement for everyone at the company. It's a privilege to be recognized on such a prestigious list, only made possible by everybody's hard work and commitment to innovation
Media Contact
Jennifer Fugel, SkyParlour, 1 8456574202, jennifer@skyparlour.com
SOURCE ConnexPay
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