2023 Fire Awards Blazer winner: Stax Payments helps clients save money on transaction and processing fees

Stax is a subscription-based payments technology provider offering clients an all-in-one platform to manage financials, payments, sales and customer data, invoicing and inventory.

Kristin Alm/Greater Sum Ventures

By Sarah Kinbar - Staff writer

June 09, 2023, 08:32am EDT

Orlando-based Stax Payments is an Orlando Inno 2023 Fire Awards honoree. The firm ranked No. 1 in the Established Players category, which includes companies that are 9-10 years old.

The subscription-based payments technology provider offers clients an all-in-one platform with digital solutions to manage financials, payments, sales and customer data, invoicing and inventory. About a year ago, Stax became Orlando’s first “unicorn,” the term used when a private business reaches $1 billion in value.

Its client Pearle Vision said switching to Stax saved $4,000-plus a year per location in transaction and processing fees alone. The savings helped Pearle Vision’s Dr. Lawrence Siegel successfully scale both of his practices while also keeping an eye on their health. Additionally, he was getting paid the day after his patients paid for their visits, he said.

Read more about the Fire Awards in Orlando Business Journal's June 9-15, 2023, weekly edition.

Introducing the 2023 Fire Awards winners

1 of 17

Here are this year's 16 honorees, listed in alphabetical order.

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2023 Fire Awards Capacitech Energy slide

Capacitech Energy is an energy storage component company that makes cable-based energy storage products, like the supercapacitor.

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Care.ai developed artificial intelligence-powered sensors and a monitoring platform that enable smart, real-time patient monitoring in hospitals, nursing homes and assisted-living communities. The startup’s technology is in use in 1,500 U.S. facilities.

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DeepWork Capital is an early-stage investment firm that provides hands-on, active engagement to support entrepreneurs before, during and after every investment.

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Hoverfly makes tethered drones for the U.S. military, as well as security and public safety companies and agencies.

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Kalogon manufactures the high-tech Kalogon Orbiter Smart Cushion, which uses machine learning and patent-pending air cell technology to sense pressure points and redistribute weight to increase blood flow and improve comfort for wheelchair users.

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2023 Fire Awards Kismet Technologies slide

Kismet Technologies is the creator of NanoRad, a fast-acting, residual antimicrobial that provides long-lasting virus and bacteria surface protection.

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Leasecake is the developer of software that allows tenants, brokers and landlords manage leases, insurance, inspections and more.

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Mosyle makes mobile device management software that lets businesses and schools control issued mobile devices and protect them from cyber attacks.

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2023 Fire Awards Osceola County government slide

Though not a tech firm or startup, Osceola County government put in a lot of work to lead a coalition that won millions of dollars from the federal government to benefit the NeoCity tech hub’s semiconductor lab.

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RedTeam developed a construction management software that allows digital collaboration on construction plans, document management, billing and more.

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SightPlan is a developer of multifamily software that makes it easier to track work requests, collect rent, communicate with residents, etc.

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Simetri is a simulation/training company that makes moulage, prosthetics that fit onto manikins to simulate various injuries for military and medical training.

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Stax is a fintech (financial technology) company that specializes in credit card payment processing for businesses.

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2023 Fire Awards Tomahawk Robotics slide

Tomahawk Robotics is a maker of an artificial intelligence-enabled, universal robot control system.

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Vaya Space developed the Star 3-D rocket engine, a hybrid engine that uses liquid and solid propellant, and the Dauntless rocket, to launch payloads into space for the growing small satellite sector.

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VerdeGo Aero created hardware that enables hybrid-electric aircraft by using both electric motors and sustainable liquid fuels — sometimes considered competing methods — to make aircraft more sustainable.

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Here’s more from Kristin Alm, senior vice president of PR and communications at Greater Sum Ventures, Stax’s majority investor:

What led to your firm’s rapid growth?

Stax’s radically simplified payments technology empowers businesses to think smarter, move faster and increase profits. Stax created a subscription model that was new to the payments industry, and helped small to midsize businesses save money on processing.

A little-known fact about the company:

Stax gives back to the community through its Stax Cares program, which supports youth in STEM [science, technology, engineering and math], women in business and radical acceptance. This year alone, Stax employees have volunteered over 100 service hours to give back to the Orlando area and other communities where its employees live and work.