Our founder and CEO, Ernest Rolfson, started his career as a working capital consultant at EY helping large companies eliminate costs and improve cashflow.
He was eventually recruited by MasterCard to develop new business to business payment products.
At MasterCard Ernest advised some of the largest banks, insurance, and healthcare companies on how to efficiently disburse hundreds of billions of dollars of spend every year.
Ernest was recruited to Change Healthcare to help them make investments to automate and electronify the 55 million paper payments they physically mailed every year.
There, he met Chris Wyatt who was responsible for managing their large payments operation and factory.
Finexio is born
Despite best intentions, Ernest and Chris grew frustrated by the lack of innovation, unresponsiveness of the large banks they worked with, and minimal resources to implement necessary change to help their customers.
To get started on fixing the problem, Ernest raised $1m from investors based on a PowerPoint identifying that the majority of companies are still paying more than $12 trillion in paper based manual processes.
Founded in Silicon Valley, the Orlando, Florida based Finexio is a team of 60 helping customers and partners manage nearly $100b in accounts payable spend.