FlexPoint, a payments automation platform for managed service providers (MSPs), today announced its public launch and an initial round of funding.
FlexPoint also announced a partnership with GreatAmerica Financial Services, a $2.8 billion company with life-to-date finance originations of over $15 billion. GreatAmerica Financial Services offers a suite of payment and working capital solutions. FlexPoint will now also offer long-term financing for MSPs through its platform, powered by GreatAmerica.
Founded in 2022, FlexPoint has rapidly grown to power the payments for hundreds of MSPs and their business clients, the company said.
FlexPoint solves one of the biggest problem for MSPs - cash flow. With FlexPoint’s payment automation platform, MSPs can increase visibility into their cash flow and save time on manual processes. MSPs and their business clients can also seamlessly get access to capital to grow their business, FlexPoint said.
“MSPs are the catalyst for digital transformation. Yet when it comes to payments, MSPs are stuck dealing with manual and time-consuming processes,” said Victor Lopez, Co-Founder and CEO at FlexPoint. “FlexPoint makes payments simple and cash flow easier to manage for MSPs and their business clients. We are excited to build a payments solution that MSPs and their business clients can trust.”
“GreatAmerica has been serving the MSP community for over 30 years, providing financing solutions to differentiate, drive sales, and improve customer retention,” said Corey Kerns, VP and General Manager, Connected Technology Group at GreatAmerica. “GreatAmerica is excited to work with FlexPoint to make it easier to offer financing. This will allow FlexPoint customers to seamlessly provide financing quotes in the 12-60 month ranges and submit credit applications.”
FlexPoint's Funding Round
FlexPoint also announced a $2.4M investment led by Garuda Ventures, with participation from Far Out Ventures, Techstars, Cascade Seed Fund, and Lorimer Ventures as well as industry veterans including founders and executives from ConnectWise, NinjaOne, CyberFox, Rewst, Empath Cyber, and LifeCycle Insights.
“The market has been demanding a platform like FlexPoint for years and the opportunity to serve the MSP market has never been greater,” said Rishi Taparia, Co-Founder and General Partner at Garuda Ventures. “We’re excited to back Victor, Sam, and team, and help build the next category defining MSP focused software solution.”
“Our team is dedicated to building a lasting business that serves the MSP community for years to come,” said Sam Kushner, Co-Founder at FlexPoint. “Payments have been a massive pain point for MSPs and we are thrilled to have the support of our MSP partners, investors, and individuals who have helped shape the MSP market into what it is today. We are excited for our next phase of growth and continuing to provide MSPs with innovative solutions.”
About FlexPoint and GreatAmerica Financial Services
Founded in 2022, FlexPoint is a payments platform for MSPs that aims to make payments simple and improve cash flow for MSPs and their business clients.
GreatAmerica is an independent, family-owned national commercial equipment finance company in the U.S. A $2.8+ billion company with life-to-date finance originations of $15.6 billion, GreatAmerica was established in Cedar Rapids, Iowa, in 1992 and has a staff of over 730 employees with offices in Iowa, Georgia, Minnesota, and Illinois.