1. Finexio, the smart B2B payment network, raises $1 MillionSeedRound
ledby James R. HeistandandLoeb.nyc
Finexio brings integrated payment processing automation into accounts payable
and procurement software
San Mateo, Monday, August 8th, 2016
Finexio,the smart B2B payment network, announced today ithas secured $1Min seed funding. The financingwas
led by James R. Heistand with participation fromLoeb.nyc, and a number of seasoned angel investors fromthe
fintech industry.
Currently, ACH and creditcard B2B solutions contain high fees,extensive manual processes,and a confusing
enrollment method that frustrate corporate buyers and suppliersalike.Consequently, 50% of the U.S.’s B2B
commercial spend, worth about $12 trillion USD,remains on paper check due to the lack of an appropriately
priced,effective, and efficient commercial payment solution.
Finexio’s B2B payment capabilities fill thegap between these existingsolutionsby intelligently routingpayments
on and off existingACH and creditcard rails to find the best possibletransaction price.This solution seamlessly
integrates into enterprise accounts payables and procurement software platforms to effortlessly embed payments
into the corporatebuying and sellingexperience.
“Having spent years as financial processes consultants and workingatlarge“Fintech” and payments companies,
we experienced first-hand the paper based, slowmanual delivery of “virtual creditcards” These cards arecurrently
mindlessly printed on tens of thousands of pieces of paper monthly, then mailed or faxed to suppliers. Notonly
are these suppliers forced to undergo a costly manual effort to receive their money, but they also areforced to pay
a 3.5-5% fee for processingcosts. Weknew there was a better way to both pay and get paid as tens of thousands
of suppliers,many of them small businesses,deserved better” said ErnestRolfson,CEO and Founder.
“I was impressed with the team and vision behind Finexio,the largemarket they were going after, and the traction
developed in such a short time to tacklea clearly addressableproblem,” remarked James R. Heistand, CEO
Parkway Properties. “Our financeteam had previously tried to implement a standard creditcard payables program
for our company that failed to gain any traction due to the high fees itforced upon our suppliers. Today we are
still printingand mailingthousands and thousands of checks annually,butl ook forward to applying this truly
unique solution to eliminateunnecessary process and costfor both us and our suppliers.”
Through a singlepointof contact, Finexio weaves together access to several private“closed loop”payment
processingnetworks by collaboratingwith a variety of payment and billingaggregators,payment facilitators,
merchant acquirers,processors,and payment networks. “We started working with largeenterprise accounts
payableautomation vendors who realized they were leavingmoney on the tableby sending checks to the majority
of their suppliers instead of a modern electronic solution,”shared CTO and co-founder David McGuerty “We

2. started by matchingup the existing paper check spend to Finexio electronic network reach. In the lastseveral
months alone we have identified several hundred million dollarsof paper payments that could be shifted to a
more efficient electronic payment. It’s a good deal for both buyer and supplier.”
This round of investment will allowFinexio to further enhance its payment platformand develop additional
integrations to extend its reach beyond the several hundred thousand suppliersalready payableon the Finexio
rails.
Third party vendors who either make payments on behalf of buyers or process payments on behalf of suppliers
interested in partneringand integrating with Finexio should visithttp://www.finexio.com for more information.
About Finexio
Finexio is the smart B2B payment network. The Finexio network eliminates commercial paper check spend by
identifyingand routing payments through a unique “network of closed loop networks”. Payments on the Finexio
railsareseamlessly pushed into a supplier’s bank accounts atfees substantially lower than prevailingcommercial
payment costs. Finexio integrates into largepayment aggregators,accounts payableautomation,and
procurement software platforms to enablethem with a more efficientpayment modality.
About James R. Heistand
Jim Heistand was appointed as Presidentand Chief Executive Officer of Parkway in December 2011 and served as
Executive Chairman of the Company justprior to his current role. Jim joined Parkway through a combination with
Eola Capital and founded Eola Capital in 2000 and served as chairman sinceits inception. Eola acquired $1.3 billion
of office assets backed by PSP, GE Capital,Lehman Brothers and others that included 13.3 million squarefeet in
Florida,Atlanta and Virginia. Jimcurrently serves on the board of directors of United Legacy Bank in Orlando,
Florida and is a member of the chairman’s circleof the real estate advisory board for the Warrington College of
Business Administration atthe University of Florida.
About Loeb.nyc
Loeb.nyc is a startup lab and early-stageprivateinvestor builton the belief that aligningtheright people with the
rightideas creates successful companies.We’ve been activein the entrepreneurial community for decades, and
now, our brand new spacein the heart of Midtown Manhattan will carry on the Loeb Enterprises legacy of
developing successful businesses. Weareentrepreneurs, strategic partners,mentors, and industry experts who
have launched and scaled enduringcompanies across industries utilizingproven strategies and techniques.
###