PayQix raises USD 11m to open online bank

PayQix, Inc., an online bank (BankQix) with a built-in business and transaction management platform, has closed a USD 11m dollar investment with an international multi-strategy focused family office, the company said.

Proceeds from the financing round are dedicated to filing for, finalizing, setting up, and then opening its bank in Luxembourg, which will serve as the centerpiece of its SMB focused technology platform.

The USD 11m dollars was a dedicated tranche broken off of the larger USD 21m dollar Series A round that PayQix currently has open. The remaining USD 10m dollar placement will be dedicated to continued build-out of the technology platform, specifically the front-end and dashboard, a tightening of the backend and database systems, as well as robust international branding, marketing, and user acquisition efforts, which the company is executing with one of its´ partners, JrPixels.

PayQix was born in New York City, NY.