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PF platform provider Infinicept has been named one of the 100 fastest-growing private companies in the U.S. by Inc. magazine. The publication ranked the company no. 95 on its annual Inc. 5000 list.

Inc. magazine reported that Infinicept has experienced 3607% growth in revenue over the past year, placing it as the second fastest-growing software company based in Colorado, and the 13th nationwide.

The company’s rapid rise is an illustration of the explosive growth of the payment facilitator model in the past few years. According to a recent report from Infinicept, the gross payments volume processed by payment facilitators increased more than 32% from $699.11 billion in 2018 to $928.64 billion in 2019.

By 2025, that number is expected to rise at a compound annual growth rate of 28.4% to reach more than $4 trillion. The report forecasts that the number of payment facilitators operating globally will grow from 1,075 in 2019 to as high as 4,229 by 2025, primarily driven by software providers transitioning to the PF model.

Infinicept is helping to fuel that growth by providing a suite of services to help streamline and simplify the process for software providers to become payment facilitators. It includes a flexible underwriting platform, merchant management and risk monitoring tools as well as expert advisory services to help with choosing partners, developing policies and procedures, and other assistance with navigating the payments industry and going to market with a payment solution.

“We are tremendously proud of this achievement. The recognition reflects positively not only on what our company is doing, but also on the value of the payment facilitator model,” Todd Ablowitz, co-founder and co-CEO of Infinicept, said.

“The PF market is growing at such a fast rate because of the innovative new ways it is shaping the landscape for software providers who are looking to improve the payment experience for their merchants and gain new revenue streams,” Infinicept co-founder and co-CEO Deana Rich added.