Payrix, a growing financial technology firm in Frisco, will expand its workforce and push into global markets with new backing from its initial investors.
Blue Star Innovation Partners and Providence Strategic Growth are upping their investment in the company to $50 million, according to Payrix. They put $22 million into the company last year.
Payrix said it intends to use the investment to add to its 55-person workforce and accelerate its global growth. The company’s software lets businesses accept and send digital payments.
“We’ve listened to our clients, many of which have exciting plans to expand -- and as we continue to scale Payrix, we want to follow our clients where they operate - domestic and abroad,” said co-founder and chief strategy officer Benny Silberstein in a statement.
Blue Star Innovation Partners, founded in 2006, is an investment fund led by serial entrepreneurs who co-manage and invest with Dallas Cowboys owner Jerry Jones and his family.
Its founder, Rob Wechsler, is a payment technology veteran. He previously ran Chase Paymentech, the bank’s credit card processing arm, and created Century Payments, which grew into a company handling $12 billion in annual transactions before he sold it to Worldpay in 2013 for an undisclosed amount. Wechsler serves as Payrix chairman.
Both Payrix and Blue Star Innovation Partners have offices at The Star, the mixed-use development where the Cowboys are headquartered.
Providence Strategic Growth is an affiliate of Rhode Island-based Providence Equity Partners, which has invested in more than 200 companies.
