Payrexx receives first Series A investment of 2.5 million Swiss francs

Swiss payment provider Payrexx AG receives financial support from INS Holding AG: 2.5 million Swiss francs flow into the development and expansion of the platform.

Thun, Switzerland - Payrexx AG, a Swiss online payment provider, has received an investment of around 2.5 million Swiss francs from INS Holding AG in its Series A financing round. This financial support is aimed at improving existing services and launching new projects.

Payrexx, founded in Thun in 2015, offers a wide range of payment methods for companies. Over 50,000 customers use the company's services across Europe, including well-known brands such as BKW, Carvolution, Zweifel Pomy-Chips, Hotelcard, SBB, Swisscom and Swiss Post. The Payrexx platform offers e-commerce tools and APIs for merchants, guarantees the highest security standards and is subject to regulation by Swiss financial supervisory authorities.

Opening up to outside capital

Until now, the company has financed itself through organic growth and smaller investments from private investors. This has enabled Payrexx to offer a wide range of over 200 payment methods for businesses. In the 2023 online merchant survey conducted by the Institute of Marketing Management, Payrexx was named the most popular payment service provider (PSP) by Swiss SMEs. The Series A round marks the entry of external investors. INS Holding AG from Zug invested the aforementioned amount as an investor, which puts Payrexx's current valuation in the double-digit million range.

The investment was made in close cooperation with Corestar Partners GmbH, which acted as exclusive strategy and financial advisor to Payrexx in this round. This boutique investment banking firm has been focusing on the fintech sector in Europe since 2013 and is regarded as a market-leading advisor for payment service providers.

According to Ivan Schmid, founder and CEO of Payrexx, the investment of 2.5 million Swiss francs may seem small by international standards. Nevertheless, it is an important step for the company's more than 50,000 customers. A large part of the funds will be used to expand the existing service, improve customer service and create regional jobs. The investment will also allow the company to launch significant growth initiatives.

Focus on bank-to-bank instant payment methods

In addition to improving the existing offering, Payrexx plans to introduce new functions such as bank-to-bank instant payment methods and the further development of QR code payments for easier online and offline payment. CEO Ivan Schmid emphasizes the importance of continuous development in a highly competitive market. It is essential for Payrexx to remain innovative and to react agilely to the needs of small and medium-sized enterprises (SMEs).