Fueled by a powerful vision for the future of global payments, all eyes are on the London-based company that Business Insider deemed a top “European fintech to watch”

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As the world expands, the demand for conducting business across borders continues to grow, with more than a quarter of e-commerce in Europe now being cross-border. As we highlighted in “Fintech and SaaS areas primed for growth in 2023,” real-time and cross-border payments remain fragmented, costly, and slow.

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This is why Unusual Ventures is thrilled to co-lead Paytrix’s $18.3M Series A investment round to drive product development and international expansion. We’re honored to partner with a syndicate of premier investors, including Bain Capital Ventures and Motive Ventures, as well as Better Tomorrow Ventures, Fin Capital, Hambro Perks, Clocktower Ventures, D4 Ventures, and The Fintech Fund. I’m looking forward to joining the Paytrix board and partnering with some notable fintech leaders and angels including Mike Massaro, CEO of Flywire.

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Cross-border commerce is still incredibly complicated and time-consuming, with multiple currencies and different regulatory requirements across each region. As the Paytrix team points out, getting cross-border commerce right is as challenging and crucial as finding product-market fit. The market opportunity is large and growing: BCG projects that cross-border payments are expected to increase from $150T in 2017 to $250T by 2027.

Paytrix provides a world class, all-in-one payments curation and infrastructure solution, eliminating the need for businesses to source and maintain up to 10–15 partners for cross-border payments. Paytrix enables businesses to better scale across borders, eliminating inefficiencies, costs, and complexities. By being regulated and sitting in the flow of funds, Paytrix empowers businesses to control their global payouts and settlements, eliminating FX and banking costs. 

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“Businesses have no option but to stitch together an inefficient, costly, and complex patchwork of service providers — this is the pain point that Paytrix is stepping in to solve.” — Aran Brown, Paytrix CEO

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Just as Carta (an Unusual portfolio company) has become critical for companies to manage their investments and cap tables, we believe Paytrix is poised to become a similar category leader for cross-border payments. Case in point: Tens of thousands of marketplaces and e-commerce merchants sell products and services across borders in multiple currencies, but most of them do not have the resources and dozens of staff to devote to cross-border payments. Instead, they must partner with a variety of providers who charge high fees and are slow to handle cross-border payments. Due to the complexity of cross-border payments, currently, only the largest players can afford to build internal solutions — Paytrix enables companies of any size to realize the same benefits efficiently.

About the the Paytrix leadership team

We’re impressed with the backgrounds of Paytrix’s founders, Aran and Eddie, and their multiple decades of experience across payments, fintech, and financial services. Their experience makes them the right founders to solve this global problem and has helped them recruit a world class team around them. 

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Paytrix CEO Aran Brown previously worked in senior commercial positions at Moneycorp, Yapstone, and Hyperwallet while also contributing to the growth and sale of Skrill to Paysafe and Travelex to Western Union. Co-founder and CPO Eddie Harrison built market-leading global payment products at Western Union and Travelex. Other members of the Paytrix senior leadership team have experience from notable industry leaders such as Currencycloud, Visa Paypal, Google, and Flywire, to name a few.

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Paytrix is just getting warmed up and we can’t wait to see what the future holds! Check out the company at www.paytrix.io.