Stax

Stax (formerly known as Fattmerchant) offers payment infrastructure and dashboards for enterprises and SaaS platforms, ranging from cloud-based in-person payment terminals to API-based online payment infrastructure. The platform covers one-time and subscription payments while providing invoicing and surcharging tools in addition to accepting payments. The platform mainly covers retail, professional services, field services, and healthcare industries. Stax also offers its users insights on inventory, sales data, and customers, for them to monitor payment trends, manage refunds, and track customer payment history.

The platform can also be integrated with Quickbooks to automate the accounting process relating to invoices, payments, and catalog items. Stax charges its customers on a subscription basis (through custom plans) and claims that its platform reduces payment processing expenses by up to 40% compared to traditional processors.

Key customers and partnerships

The company reportedly had over 30,000 enterprise users as of January 2023, and reported that the platform had processed over USD 30 billion in payments. Stax expanded its platform capabilities by adding “surcharging” through the acquisition of CardX, a platform to integrate surcharge automations.

Funding and financials

Stax raised USD 245 million in funding and reached unicorn status in March 2022. The funds were earmarked for product developments and recruitment to expand globally.