Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon” or the “Company”), an affiliate of Monroe Capital and a leading specialty finance company, announced it has provided a $10 million venture loan facility to OneNetwork, Inc., operating as Finexio. The initial funding of $5 million will support Finexio’s growth and working capital needs.
Revolutionizing B2B Payments with “Accounts Payable (AP) Payments as a Service”
Finexio, a prominent player in the B2B payments sector, offers a fully managed solution branded as “Accounts Payable (AP) Payments as a Service.” By leveraging AI technology, Finexio optimizes, monetizes, and secures the entire payment lifecycle. Its platform automates and digitizes payments, integrating seamlessly with existing AP and procurement systems through various payment methods, including ACH, virtual credit cards, and checks. Backed by notable investors such as JP Morgan and Mendon Venture Partners, Finexio is driving innovation in the payments industry.
“Finexio’s platform exemplifies the future of payments through its ease of adoption and comprehensive digital capabilities,” said Gerald A. Michaud, President of Horizon. “By leveraging predictive analytics, it helps clients optimize payment timing and cash flow while providing advanced fraud prevention. We are pleased to support Finexio’s growth as it continues to lead the transformation of the payments industry.”
Ernest Rolfson, CEO of Finexio, expressed enthusiasm for the partnership: “We are excited to have Horizon’s support as we empower our customers and partners with best-in-class technology. This support enhances our ability to provide cost-saving, seamless, and value-generating electronic payment solutions.”
About Horizon Technology Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN), managed by Horizon Technology Finance Management LLC, an affiliate of Monroe Capital, specializes in providing secured loans to venture-backed companies in technology, life sciences, healthcare information and services, and sustainability sectors. Horizon’s investment strategy focuses on generating income from debt investments and capital appreciation through warrants associated with these investments.
Based in Farmington, Connecticut, with a regional office in Pleasanton, California, Horizon has investment professionals strategically located throughout the U.S. Monroe Capital, a $19.5 billion asset management firm, specializes in private credit markets across various strategies, including direct lending, venture debt, structured credit, and more. For additional information, visit horizontechfinance.com.
