AUSTIN, Texas – Firms making their living on the Internet find the path to profitability a tough one. Internet solutions provider FundsXpress says it will be there by year-end. To help buoy the company until the profitability stage, FundsXpress has received commitment for an additional $10 million investment from current FundsXpress investors Warburg Pincus, The Beacon Group and the Texas Growth Fund. According to FundsXpress, it currently has 500 financial institution clients. "We are excited about the future of our company," said John A. Burns, chairman and CEO of FundsXpress. "While we take pride in focusing on our highly successful marketing and customer service programs, our primary goal has been to make FundsXpress a profitable company by the end of 2001." Founded in 1997, FundsXpress offers an array of online products including portals, Internet banking, bill payment, cash management, online brokerage, and a digital wallet.
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