Koxa Corp announced a significant growth investment. The NY-based fintech company provides an open banking enablement platform that is massively improving the treasury banking market.
Crosslink Capital led the investment, with participation from Clocktower Technology Ventures, Fin Capital, Basecamp Fund, This is Water, existing angel investors, and others.
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Koxa will use the investment to fund the company’s continued rapid growth, including hiring critical new team members, building additional ERP integrations, and developing category-first product extensions.
Camellia George and Conner Mulvee founded Koxa in 2020 to fix the broken treasury banking system. Camellia explained, “Accounting teams are sick of manual processes, constantly uploading and downloading flat files to and from their bank portal, and setting up expensive, brittle, one-off FTP connections.” Camellia adds, “They consistently tell us that they want to pay vendors and reconcile bank data with the click of a button inside their ERP – so that’s what we built. Koxa is an all-API, all in-ERP solution. No bank portal. No file upload. No FTP. Just Koxa’s secure simplicity.”
Crosslink investor Caroline Broder joined Koxa’s board of directors concurrent with the investment. “From our first meeting with Camellia and Conner, we knew we wanted to partner with them. Crosslink’s thesis in modernizing core banking infrastructure is focused on opening up the tooling that connects banks with the core activities of their customers. The pain point for banks and treasury teams is massive, and has remained unsolved for far too long. We are confident Koxa is the right company and team to lead that change.”
Koxa’s platform is currently integrated with 3 of the top 5 US banks, and the company continues to build its network of banks and ERPs.
About Koxa
Koxa is a fintech API platform that connects ERPs and accounting software — like NetSuite, Workday, Microsoft Dynamics GP — to corporate bank accounts. Koxa partners with banks to extend the functionality of a bank’s online treasury portal directly into the user’s accounting software.