Credorax, Inc., a Southborough, MA-based unified transaction processing & acquiring platform for online retailers and Payment Service Providers (PSPs), received a $40m growth equity investment.
The round was led by FTV Capital. In conjunction with the funding, Chris Winship, FTV Capital partner, will join Credorax’ board.
The company intends to use the funds to enhance its technology platform, client service, distribution capabilities and geographic presence.
Led by Benny Nachman, founder and CEO, Credorax provides PSPs, ISOs and online merchants with a proprietary platform to optimize the payment and acquiring lifecycle process for multi-channel retail environments. It is a Principal Member of Visa Europe and MasterCard and licensed financial institution under the PSD (Payment Services Directive) in Europe.