• Stax

  Participated · Equity · May 2016

  Stax offers an all-in-one payments platform and the industry’s only fully integrated payments API, enabling businesses and software platforms to manage payments, analyze data, and simplify customer experiences. The company says it has powered more than $23 billion in transactions for roughly 22,000 businesses and has grown 500% over the past three years. Stax plans to use new capital to expand product capabilities, enhance customer offerings, grow its team, and expand internationally. It recently acquired automated surcharging platform CardX in November. Stax was founded in 2014 by siblings Suneera Madhani and Sal Rehmetullah and is headquartered in Orlando, Fla. Fattmerchant provides an all-in-one payments and commerce software platform (Omni) and an ISV-focused PayFac integration (Omni Connect) that exposes a single API for bank sponsorship, merchant onboarding, risk management, settlement, and reporting. The company says the new investment will fund increased product innovation and accelerate growth while the founding leadership team — CEO Suneera Madhani and President Sal Rehmetullah — remains in place. Founded in 2014 and based in Orlando, Fattmerchant has expanded its roster of ISV partners and merchant customers since launching Omni Connect. The financing is positioned to help the company deepen its proprietary technology offerings for ISVs and SMBs and commercialize integrated payments as an ancillary revenue stream. In 2020 Fattmerchant received multiple recognitions including Forbes’ Top 50 Fintech, inclusion on the Inc. 5000 and Deloitte’s Technology Fast 500, and was named Private Titans No.1 Fintech Business in Florida; Madhani was named to Fortune’s 40 Under 40. No revenue or user metrics were disclosed in the article. Fattmerchant offers an integrated payments platform combining card-present and card-not-present solutions under one API and a unified dashboard. The platform supplies one merchant account, one subscription, native QuickBooks integration, data analytics and additional business tools across devices. It serves business owners across the United States. Founded in 2014 by Suneera Madhani (CEO) and Sal Rehmetullah (President), the company is based in Atlanta, GA and Orlando, Fla. Fattmerchant closed a $10.5M Series C funding round. The company plans to use the funds to develop its technology platform and create more than 50 jobs over the next 18 months. Fattmerchant provides subscription-based payment technology featuring direct-cost pricing, analytics and omni-channel integrated payments tools for businesses across the nation. The platform aims to improve efficiency and reduce credit card processing costs for customers. The company is co-founded by COO Sal Rehmetullah and CEO Suneera Madhani. Fattmerchant reached $1 billion in transactional volume. It plans to use new funding for continued product and technological developments, marketing and customer acquisition. The company serves businesses of all sizes with tools to save on payment processing. Fattmerchant provides merchant services that offer unlimited credit card processing at direct cost for a flat monthly membership and no contract. Led by founder and CEO Suneera Madhani, the company is based in Orlando, FL and employs about 25 people. The firm plans to build a new suite of technology tools for customers, including an advanced mobile platform. It recently closed a $1.4M funding round and will use the proceeds for continued product and technological developments, marketing and customer acquisition. The raise brings the company’s total funding to $2.25M.

No current team members are available.