FlexPoint Secures $12M In Funding, Will Build Out Partner Program: Exclusive

‘This funding allows us to accelerate what we’ve already proven in the market—that MSPs want better, integrated payments tools and we’re building exactly that,’ says Victor Lopez, co-founder and CEO of FlexPoint.

B2B payment platform provider FlexPoint has raised $12 million in Series A funding to usher in the vendor’s next phase of growth with aggressive hiring, product development and expansion.

“We’re incredibly excited about this next chapter,” Victor Lopez, co-founder and CEO of FlexPoint, told CRN in an exclusive interview. “This funding allows us to accelerate what we’ve already proven in the market—that MSPs want better, integrated payments tools and we’re building exactly that.”

The funding was led by Foundry Group with participation from Haymaker Ventures, Garuda Ventures, Techstars, Far Out Ventures and Cascade Seed Fund. This brings the company’s total funding to $19.5 million since its March 2023 launch.

The New York-based company, which has seen 4X year-over-year revenue growth and now supports more than 40,000 businesses, plans to double or even triple its current 25-person team. Key hires will be made across engineering, product, customer support and sales and will all be U.S.-based, according to Lopez.

[Related: OpenAI Raises $40B In Funding With Aim To ‘Push The Frontiers Of AI Research Even Further’]

“Our customers care deeply about support and service quality, and that means U.S.-based teams,” he said. “We’re proud to have hubs in Tampa, Minneapolis and New York with flexibility for remote work around those locations.”

A major focus for the new funding is building out FlexPoint’s partner program, which allows MSPs to resell FlexPoint’s offerings to their own clients, generating new revenue streams in the process. While the program is currently in a limited rollout, broader availability is planned over the next six months.

“Phase one for MSPs was becoming the IT and security adviser,” Lopez said. “Now that they’re embedded in the client’s business, there’s a huge opportunity to help them streamline the financial side. That’s where we come in.”

Dustin Bolander, founder of Austin, Texas-based Clear Guidance Partners and an early FlexPoint partner, said automatic payments “should be in place at every MSP today.”

“We set that up day one at Clear Guidance, and when our legacy provider started to struggle, we switched to FlexPoint,” he told CRN. “The self-service financing is killer for clients that need it; it lets us say yes to those requests without having to be a bank.”

FlexPoint also plans to deepen existing integrations and introduce AI-powered tools to support accounting, reconciliation and financial ops.

“Everyone’s thinking about AI in terms of service delivery,” Lopez said. “But the real profitability boost for MSPs comes from automating back-office operations. We’re investing in that.”

As for the future, Lopez said FlexPoint is building “the best payments platform for MSPs” and an innovative partner-led revenue model.

“We see MSPs as the gateway to SMB commerce,” he said. “We’re here to help them not only deliver tech services but also unlock new growth through payments.”