US-based payment processing infrastructure-as-a-service (IaaS) platform Finix has raised an additional $30m in its Series B funding round.

The fundraising was led by Lightspeed Venture Partners with participation from American Express Ventures.

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The latest round extends the total Series B funding round to $75m, bringing the total amount raised by the company to date to $96m.

Finix will use the fresh capital to increase staff headcount and continue to help software companies convert into payment companies.

The payments facilitator employs 80 people, up from 15 people a year ago.

Finix’s customer base includes software-as-a-service (SaaS) companies like Passport Labs, Clubessential, retail point-of-sale company Lightspeed POS, and more.

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SaaS companies leverage Finix’s API to create and manage business-critical payment infrastructure, which help them cut costs, and improve time-to-market.

In a blog post, Finix said: “Businesses everywhere are turning to digital payments and software to manage the challenges—and take advantage of the opportunities—brought on by Covid-19.

“Over the past few months, Finix has helped our customers quickly adjust payments offerings to serve small businesses in new ways and handle the unprecedented demand in e-commerce.

“In fact, we have recently quadrupled the payments volume our customers’ process through our platform.

“If you are a vertically-focused SaaS company looking to take back control of your payments stack to better serve your customers, please get in touch.

“We are also hiring payments enthusiasts of all types – but mostly engineers – to help us meet growing customer demand.”